The JetBlue ( ) / Spirit Airlines () merger, which is currently being contested by the DOJ, seems like an interesting situation. It is also uncorrelated with the broader market, which is exactly what I am looking for. If the merger succeeds, Spirit shareholders stand to receive at least $30.00 / share in cash. The stock currently trades at $9.60. The spread is almost comically huge, which implies a large amount of market pessimism both on the odds of a deal going through and on the viability of Spirit as a standalone business.
JetBlue / Spirit Airlines Merger Thoughts
JetBlue / Spirit Airlines Merger Thoughts
JetBlue / Spirit Airlines Merger Thoughts
The JetBlue ( ) / Spirit Airlines () merger, which is currently being contested by the DOJ, seems like an interesting situation. It is also uncorrelated with the broader market, which is exactly what I am looking for. If the merger succeeds, Spirit shareholders stand to receive at least $30.00 / share in cash. The stock currently trades at $9.60. The spread is almost comically huge, which implies a large amount of market pessimism both on the odds of a deal going through and on the viability of Spirit as a standalone business.