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Spirit Airlines amenable to JetBlue takeover
Tuesday, 08 Apr, 2022
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JetBlue’s unsolicited all-cash offer for Spirit Airlines is not a hostile bid.
Spirit has agreed to hold talks with JetBlue over the.$3.6 billion takeover offer.
JetBlue’s offer is at a premium to the earlier Frontier bid, equivalent to $33 per share in cash.
Spirit had been mulling a $6.6 billion merger with Frontier Group Holdings.
The proposal with Frontier Airlines has attracted criticism from lawmakers, saying it will further shrink competition.
They asked regulators to scrutinize it very closely.
JetBlue ‘looks forward to engaging with the Spirit Board to finalize our combination’ it said.
JetBlue claims a tie-up will create a ‘national low-fare challenger to the four large dominant US carriers that will result in lower fares’
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