JetBlue to Launch Tender Offer for Spirit, Urge Shareholders to Vote Against Frontier Deal



JetBlue Airways Corp. said it plans to launch a hostile takeover attempt for discount carrier Spirit Airlines Inc. after Spirit rejected JetBlue’s $3.6 billion offer in favor of an existing deal with Frontier Airlines.

JetBlue is appealing directly to Spirit’s shareholders by launching a tender offer for their shares, in hopes of pressuring Spirit’s management to re-engage in negotiations, JetBlue said Monday. At the same time, JetBlue said it is urging Spirit shareholders to vote against Spirit’s planned merger with Frontier Group Holdings Inc. on June 10 to send a message to the Spirit board.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Article

Unusually high temperatures to hit western Europe this week

Next Article

Study shows children's physical activity levels fell below national guidelines in wake of pandemic

Related Posts