Spirit Airlines’ board still supports Frontier Airlines’ $2.9 billion takeover bid for the airline, saying it determined JetBlue’s competing $3.6 billion offer isn’t a superior proposal.
Last month Spirit said that after speaking with financial and legal advisers, its directors believed JetBlue’s offer could “reasonably” turn out to be the better of the two deals.
But on Monday the company announced that it was determined that JetBlue’s offer “is not reasonably capable of being consummated.”
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Last month Spirit said that after speaking with financial and legal advisers, its directors believed JetBlue’s offer could “reasonably” turn out to be the better of the two deals.
But on Monday the company announced that it was determined that JetBlue’s offer “is not reasonably capable of being consummated.”
Continue reading...
