JetBlue is going hostile in its bid for Spirit Airlines and asking shareholders to reject a proposed $2.9 billion acquisition by Frontier Airlines.
JetBlue is going hostile in its bid for Spirit Airlines and asking shareholders of the low-cost carrier to reject a proposed acquisition by Frontier Airlines.
Spirit's board rejected JetBlue's original $3.6 billion bid on May 2, saying antitrust regulators are unlikely to approve an offer from the New York City airline largely because of its alliance with American Airlines in the Northeast. The Justice Department is suing to block that deal. JetBlue said its new offer is lower because of Spirit's unwillingness to share financial information that JetBlue requested.
Hayes said JetBlue is offering a significant premium in cash, more certainty, and more benefits for all Spirit investors. He said JetBlue is confident of winning regulatory approval, and called the Frontier bid high risk and low value.The bid from Frontier Group Holdings Inc. provides less cash but would let Spirit shareholders keep 48.5% of the combined airline. It would give Spirit shareholders 1.9126 shares of Frontier plus $2.13 in cash for each Spirit share.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rebuffed by Spirit Airlines, JetBlue goes hostile in takeover bidJetBlue is going hostile in its bid for Spirit Airlines and asking Spirit shareholders to reject a proposed $2.9 billion acquisition by Frontier Airlines.
Read more »
JetBlue makes hostile bid for Spirit Airlines after twice being rebuffedJetBlue is going hostile in its bid for Spirit Airlines and asking shareholders of the low-cost carrier to reject a proposed $2.9 billion acquisition by Frontier Airlines.
Read more »
JetBlue launches hostile takeover bid for Spirit AirlinesJetBlue Airways Corp on Monday commenced a hostile all-cash takeover bid for Spirit Airlines Inc , two weeks after the discount carrier rejected an offer from the larger rival.
Read more »
Rebuffed by Spirit, JetBlue goes hostile in takeover bidJetBlue is going hostile in its bid for Spirit Airlines and asking Spirit shareholders to reject a proposed $2.9 billion acquisition by Frontier Airlines
Read more »
JetBlue launches hostile takeover for SpiritJetBlue is going hostile in its effort to acquire Spirit (SAVE), the latest twist in an industry battle for the low-cost carrier.
Read more »
JetBlue to Launch Tender Offer for Spirit, Urge Shareholders to Vote Against Frontier DealJetBlue said it plans to launch a hostile takeover attempt for discount carrier Spirit Airlines after Spirit rejected JetBlue’s $3.6 billion offer in favor of an existing deal with Frontier Airlines
Read more »