JetBlue is offering $30 a share and said its earlier offer of $33 a share is still on the table if Spirit management negotiates.
The market looked prepared for a quiet open on Monday.
American low-cost carrier JetBlue Airlines announced on Monday a hostile takeover bid for its rival Spirit Airlines, which had rejected a previous bid in favour of a merger with Frontier.
Shares of Spirit Airlines Inc. SAVE, +3.85% soared 17.5% in premarket trading Monday, after JetBlue Airways Corp. JBLU, +5.01% said it launched a "fully financed" tender offer to buy all Spirit outsta
JetBlue plans to launch a tender offer for Spirit shareholders' holdings at $30 a share in cash, sources told The Wall Street Journal.
JetBlue plans to appeal directly to Spirit's shareholders after the airline rejected JetBlue's $3.6 billion acquisition offer, a move it hopes will force Spirit's management to reconsider.
Spirit rejected JetBlue's $3.6 billion takeover proposal earlier this month, opting to stick with a lower-priced bid from Frontier.
JetBlue Airways Corp plans to launch a hostile takeover offer for Spirit Airlines Inc, the Wall Street Journal reported on Monday, days after the ultra low-cost carrier rejected the company's $33 per

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In February, Spirit and Frontier announced plans to merge in what would create a massive discount airline, the fifth-largest carrier in the U.S.
Spirit CEO Ted Christie said JetBlue's proposed merger has three “puzzle pieces” that make it unlikely to ever occur.
Spirit Airlines Inc. (NYSE: SAVE) said on Monday that it has turned down a $3.6B cash takeover offer from JetBlue Airways Corp (NASDAQ: JBLU), claiming that the deal is unlikely to be finalized, and

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Spirit Airlines said it will stick with its deal to be purchased by Frontier Airlines, rejecting a more lucrative competing offer from JetBlue Airways.
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