News Formal

Airline merger: Frontier sweetens offer for Spirit Airlines

  • 📰 wjxt4
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Frontier Airlines on Friday added more cash and a larger breakup fee to its offer to buy Spirit Airlines, and the Spirit board repeated its preference for Frontier over a rival bid by JetBlue Airways.

FILE - A line of Spirit Airlines jets sit on the tarmac at Orlando International Airport on May 20, 2020, in Orlando, Fla. Frontier Airlines on Friday, June 24, 2022, added more cash and a larger breakup fee to its offer to buy Spirit Airlines, and the Spirit board repeated its preference for Frontier over a rival bid by JetBlue Airways.

Spirit said that, given the sweetened terms, its board reiterated its unanimous recommendation that shareholders approve the Frontier offer at a special meeting next Thursday. Frontier's stock-and-cash offer would give Spirit shareholders 48.5% of the new, combined airline — which does not yet have a name. That means investors willing to hold the stock could come out ahead if the shares rise enough in price.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 246. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

🙄Anyways we have more pressing issues have a good night!

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Frontier Airlines adds cash to sweeten offer for Spirit mergerThe Denver-based airline also raised the amount it would pay Miramar, Florida-based Spirit if antitrust regulators stop the deal.
Source: fox7austin - 🏆 594. / 51 Read more »

Frontier Airlines Sweetens Offer for Spirit Merger as Shareholder Vote LoomsFrontier Airlines has sweetened its offer to combine with fellow budget carrier Spirit, less than a week before Spirit shareholders are set to vote on the deal. SWFTC
Source: nbcsandiego - 🏆 524. / 51 Read more »

Spirit renews support for Frontier merger after it boosts offerSpirit Airlines Inc said on Friday it has renewed its support for a merger deal after Frontier Group Holdings raised its cash offer by $2 per share to buy its rival ultra-low cost airline, according to a regulatory filing.
Source: Reuters - 🏆 2. / 97 Read more »

Frontier Airlines Sweetens Offer for Spirit Merger as Shareholder Vote LoomsFrontier Airlines has sweetened its offer to combine with fellow budget carrier Spirit, less than a week before Spirit shareholders are set to vote on the deal. SWFTC
Source: nbcsandiego - 🏆 524. / 51 Read more »