Spirit Airlines rejects JetBlue offer, clears way for Frontier merger
Spirit Airlines' board of directors "unanimously determined" JetBlue's offer was "not superior" to Frontier's.
Stay updated with breaking news from Mac Gardner. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Spirit Airlines' board of directors "unanimously determined" JetBlue's offer was "not superior" to Frontier's.
Spirit rejected JetBlue's improved offer, which included a $200 million breakup fee, and is now on track to merge with Frontier.
Spirit said antitrust regulators are unlikely to approve JetBlue's offer because of JetBlue's alliance with American Airlines in the Northeast.
In April, Spirit Airlines' Board of Directors said that after speaking with financial and legal advisers, it believed JetBlue’s offer could “reasonably” | Spirit Airlines turns down JetBlue offer, favors Frontier
Spirit's board views it as the best way to maximize value.