JetBlue announced a bid to acquire Spirit Airlines, challenging a merger between Spirit and Frontier Airlines announced in February 2022
NEW YORK: JetBlue Airways announced Tuesday a bid to acquire Spirit Airlines for $3.6 billion, setting up a bidding war with Frontier Airlines in the discount flying market.
The all-cash bid of $33 a share marks a 5% premium of Spirit’s price prior to its Feb 7 announcement of the deal with Frontier, according to JetBlue.
“JetBlue firmly believes its proposal constitutes a ‘superior proposal’ under Spirit’s merger agreement with Frontier and represents the most attractive opportunity for Spirit’s shareholders,” JetBlue said.
Spirit confirmed receipt of the “unsolicited” proposal from JetBlue,…
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