JetBlue boosts offer to buy Spirit Airlines

12:55am, Tuesday, 21'st Jun 2022
JetBlue Airways Corp. is continuing its quest to buy Spirit Airlines Inc., increasing its offer and strengthening its commitment to divest itself of assets to get regulatory approval for the deal
JetBlue Airways Corp on Monday further improved its offer to acquire takeover target Spirit Airlines by $2 to $33.50 per share in cash following its following completion of its diligence review.
Spirit Airlines is being squeezed on all sides, by two carriers that want to acquire it, and by regional carriers who have dramatically
JetBlue recently sweetened its offer for Spirit to include a $350 million reverse break-up fee.
Spirit Airlines Inc. SAVE, -4.67% said Tuesday it continues to be bound to its merger agreement with Frontier Group Holdings Inc. ULCC, -7.26% , which it views as a superior proposal to a rival June 6
Spirit Airlines Inc said on Tuesday it was in talks with JetBlue Airways Corp about a sweetened buyout proposal from the bigger peer.

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A merger of Spirit Airlines Incorporated (NYSE: SAVE) is “a high probability outcome,” and a merger with JetBlue Airways Corporation (NASDAQ: JBLU) is more likely than with Frontier (NASDAQ: ULCC)

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Spirit Airlines Inc's acquisition by JetBlue Airways Corp has become a "growing probability", according to analysts at JPMorgan.
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