Spirit shareholders approve JetBlue takeover
Spirit's board approved sale to JetBlue in July
Spirit Airlines on Wednesday announced that its shareholders approved the multibillion-dollar merger agreement with JetBlue Airways that could potentially reshape the discount airline market.
"This is an important step forward on our path to closing a combination that will create the most compelling national low-fare challenger to the dominant U.S. carriers," Spirit Airlines CEO Ted Christie said.
Despite the shareholder's approval Wednesday, the $3.8 billion acquisition still needs approval from regulators. This process could take several months.
Spirit's board approved a sale to JetBlue in July over fellow discount carrier Frontier Airlines.
This is a developing story. Check back for updates.