for the ultra low-cost carrier. JetBlue said in a filing that it would increase its breakup fee for the deal to $350 million and pay part of that as a $1.50-per-share dividend if the deal were to be consummated. In all, that increases the value of JetBlue's offer to $31.50 per Spirit share.
JetBlue, whose shares were unchanged, previously offered $30 per share and a $3 kicker if Spirit entered into negotiations. Spirit rejected that, favoring a lower bid from Frontier Airlines, on the thought that regulators would not approve a JetBlue combination.agreed to pay a breakup fee of $250 million on its deal. Frontier shares dropped 1.6% in Monday's premarket. Spirit was set to vote on the Frontier offer on Friday.
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