South Florida-based Spirit Airlines, the target of a budget airline bidding war, said Tuesday that it has been in talks with JetBlue about last week’s buyout offer while remaining engaged with Frontier Airlines, with which Spirit has already signed a merger agreement.
Spirit, based in Miramar, said its board expects to complete its due diligence on the two offers and have an update for shareholders before the June 30 vote on which deal to accept.
JetBlue has offered more in cash than Colorado-based Frontier’s stock and cash bid, but Spirit’s board has rebuffed JetBlue, saying federal antitrust regulators are more likely to shoot down that deal.
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Spirit, based in Miramar, said its board expects to complete its due diligence on the two offers and have an update for shareholders before the June 30 vote on which deal to accept.
JetBlue has offered more in cash than Colorado-based Frontier’s stock and cash bid, but Spirit’s board has rebuffed JetBlue, saying federal antitrust regulators are more likely to shoot down that deal.
Continue reading...