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JetBlue makes another offer on Spirit Airlines bids | Associated Press

New York (AP) — JetBlue Airlines increased its offers to buy Spirit Airlines on Monday, raising stakes again in the battle for the country’s largest low-cost carrier.

JetBlue Airlines, based in New York, said it has increased its cash offers to $ 33.50 per share, or more than $ 3.6 billion. That’s $ 2 per share over the June 6 offer and 50 cents over JetBlue’s first April bid.

Frontier Airlines put the spirit Playing in February When the boards of directors of the two airlines agree on a merger in which Spirit’s shareholders acquire cash and 48.5% of the merged company. The deal was initially worth about $ 2.9 billion, but lost value due to the fall in frontier stock prices.

Florida-based Spirit, Shareholders of Miramar Will vote on June 30th In a frontier bid, JetBlue is trying to convince investors to break the deal and push the spirit into JetBlue’s arms.

Spirit said it is considering JetBlue’s latest offer. Denver-based frontier declined to comment. Spirit said last week that the board would provide shareholders with the latest information before the June 30 vote.

Spirit’s board opposed the deal with JetBlue, saying that antitrust regulators would never allow it. JetBlue said Monday that it has stepped up its commitment to the sale needed to satisfy regulators, but will not lose its controversial partnership with American Airlines in the northeastern United States.

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JetBlue makes another offer on Spirit Airlines bids | Associated Press

Source link JetBlue makes another offer on Spirit Airlines bids | Associated Press

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