JetBlue's $3.8 Billion Buyout Offer for Spirit Airlines in Jeopardy

JetBlue Airways warned it may terminate its $3.8 billion bid to acquire Spirit Airlines after a federal judge blocked the deal, prompting a potential end to the merger as soon as this weekend. The Justice Department sued to block the merger, citing concerns about driving up fares by eliminating Spirit, the nation’s biggest low-cost airline. Both airlines have filed their intention to appeal with a higher court, and if the deal falls through due to government opposition, JetBlue could face a $470 million reverse breakup fee.