Spirit Airlines rose nearly 10% and JetBlue began to make a takeover offer for spirit airlines at $30 a share in cash. According to people familiar with the matter, JetBlue plans to make a bid for spirit airlines at the price of $30 per share in cash, but if spirit is willing to accept the negotiations and provide the data required by JetBlue, the company will be willing to pay an initial bid of $33 per share.
Previously, spirit rejected JetBlue's US $3.6 billion (US $33 per share) offer and opted for a merger with frontier Group Holdings (ULCC. US).
According to the above-mentioned people familiar with the matter, JetBlue intends to make a takeover offer to spirit shareholders to directly attract them, hoping to force spirit management back to the negotiating table. Meanwhile, JetBlue plans to urge spirit shareholders to vote against the merger plan between spirit and frontier at the shareholders' meeting, so as to further shake spirit's leadership.
It is understood that frontier has offered to acquire spirit at the price of 1.9126 frontier shares per share and US $2.13 in cash.
It is reported that the battle between JetBlue and frontier for spirit has lasted for some time. JetBlue said the deal would make it a stronger competitor to the four largest airlines in the United States. The four airlines control nearly 80% of passenger traffic in the United States and increase operational investment in key markets such as the northeast and Florida.
JetBlue, spirit and frontier did not immediately respond to requests for comment.
It is worth noting that spirit plans to hold a shareholders' meeting on June 10 to vote on the merger plan with frontier.
