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<blockquote data-quote="WPLG" data-source="post: 42648" data-attributes="member: 158">JetBlue Airways on Monday increased its offer to buy Spirit Airlines, raising the stakes again in a battle over the nation's biggest budget airline.New York-based JetBlue said it increased its cash offer to $33.50 per share, or more than $3.6 billion. That is an increase per share of $2 over a June 6 offer and 50 cents over JetBlue's original April bid.Frontier Airlines put Spirit <a href="https://apnews.com/article/frontier-airlines-spirit-airlines-d3c52448e9fff3efb3cd82d99a84619c" target="_blank">in play in February</a> when boards of the two airlines agreed to a merger in which Spirit shareholders would get cash and 48.5% of the combined company. That deal was originally valued around $2.9 billion but has lost value because of a decline in Frontier's stock price.Shareholders of Miramar, Florida-based Spirit <a href="https://apnews.com/article/airlines-buyouts-435eed80f62f806006a7b256622fcc07" target="_blank">are scheduled to vote June 30</a> on the Frontier bid, and JetBlue is trying to convince investors to scuttle the agreement and drive Spirit into JetBlue's arms.Neither Spirit nor Denver-based Frontier commented immediately on JetBlue's announcement. Spirit said last week that its board would give shareholders an update before the June 30 vote.Spirit's board has opposed a deal with JetBlue, saying antitrust regulators would never allow it. JetBlue said Monday that it strengthened its commitment to divestitures needed to satisfy regulators but won't drop a controversial partnership with American Airlines in the northeast U.S.<a href="https://www.local10.com/business/2022/06/20/jetblue-raises-offer-again-in-bidding-for-spirit-airlines/" target="_blank">Continue reading...</a></blockquote>

[QUOTE="WPLG, post: 42648, member: 158"] JetBlue Airways on Monday increased its offer to buy Spirit Airlines, raising the stakes again in a battle over the nation's biggest budget airline. New York-based JetBlue said it increased its cash offer to $33.50 per share, or more than $3.6 billion. That is an increase per share of $2 over a June 6 offer and 50 cents over JetBlue's original April bid. Frontier Airlines put Spirit [URL='https://apnews.com/article/frontier-airlines-spirit-airlines-d3c52448e9fff3efb3cd82d99a84619c']in play in February[/URL] when boards of the two airlines agreed to a merger in which Spirit shareholders would get cash and 48.5% of the combined company. That deal was originally valued around $2.9 billion but has lost value because of a decline in Frontier's stock price. Shareholders of Miramar, Florida-based Spirit [URL='https://apnews.com/article/airlines-buyouts-435eed80f62f806006a7b256622fcc07']are scheduled to vote June 30[/URL] on the Frontier bid, and JetBlue is trying to convince investors to scuttle the agreement and drive Spirit into JetBlue's arms. Neither Spirit nor Denver-based Frontier commented immediately on JetBlue's announcement. Spirit said last week that its board would give shareholders an update before the June 30 vote. Spirit's board has opposed a deal with JetBlue, saying antitrust regulators would never allow it. JetBlue said Monday that it strengthened its commitment to divestitures needed to satisfy regulators but won't drop a controversial partnership with American Airlines in the northeast U.S. [url="https://www.local10.com/business/2022/06/20/jetblue-raises-offer-again-in-bidding-for-spirit-airlines/"]Continue reading...[/url] [/QUOTE]

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