Spirit Airlines urges shareholders to reject JetBlue’s tender offer
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Takeoff from Denver International Airport, Colorado on Monday February 7, 2022 by Spirit Airlines aircraft taxis
Michael Ciaglo | Bloomberg | Getty Images
Spirit AirlinesThe board on Thursday asked its shareholders not to accept the recommendation. JetBlue Airways“Hostile takeover”: The airline is accused of trying to stop its merger with a discount carrier by citing regulatory obstacles and accusing it Frontier Airlines.
Spirit stated in a statement that JetBlue’s offers and proposals are “cynical attempts to disrupt Spirit’s merger of Frontier with Frontier which JetBlue considers a threat.”
JetBlue has launched their hostile takeover bidThe $33/share all-cash bid to acquire Spirit was rejected Monday by the company. JetBlue from New York offered $30 per share.
JetBlue also called on Spirit shareholders at its June 10 stockholder meeting to decline the Frontier combination.
Frontier and Spirit have announced that they will combine their cash and stock to create a discounted airline company.
The fifth largest U.S. airline would be created by any combination of these airlines.
Premarket trading on Thursday saw Spirit share prices fall by 2%, and JetBlue shares fell fractionally.
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