Frontier Airlines again sweetens bid for Spirit merger

Friday, 27 Jun, 2022 0

Frontier Airlines again sweetened its bid for Spirit Airlines, just ahead of a crucial shareholder vote.

Frontier upped the breakup fee to match rival JetBlue at $350 million and offered an extra $2 cash per share to its previous offer.

It rises to $4.13 per share.

Despite improved terms from JetBlue, the Spirit Airlines still recommends shareholders vote to accept the Frontier offer.

JetBlue said its offers still remains more attractive than Frontier’s at a higher value with ’more certainty, and more regulatory protections.’

The battle for Spirit has heated up in recent weeks, with tit-for-tat improved offers

That led to Spirit Airlines delaying the shareholder vote to June 30.

Spirit still remains sceptical regulators would approve a deal by JetBlue.

 



 

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Ray Monty



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