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Benzinga
Benzinga
Business
Tyler Bundy

Spirit Airlines Flies Higher After Merger Announcement: What's Next?

Spirit Spirit Airlines Frontier

Spirit Airlines Inc. (NYSE:SAVE) shares are pushing higher after the company announced a merger agreement Monday with Frontier Group Holdings Inc (NASDAQ:ULCC). The company also reported better-than-expected fourth-quarter EPS and sales results.

The transaction implies a value of $25.83 per Spirit share, representing a premium of 19% over the Feb. 4, 2022 closing price of Spirit.

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