Frontier is no longer in talks with Spirit after months of negotiations to try and merge the two U.S. discount airlines, which now puts the focus squarely on JetBlue Airways and a possible acquisition by Spirit.
The termination of the merger agreement between Spirit and Frontier Airlines on Wednesday comes months after JetBlue impaired the deal by bidding as well. Still, Spirit says it will continue the “ongoing discussions with JetBlue" as the company pursues"the best path forward for Spirit" and stockholders.
According to the Washington Post, Spirit terminated the Frontier deal as shareholders were reportedly prepared to reject it after JetBlue made a recent higher offer.
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Spirit Airlines shareholders to vote on much-delayed merger with Frontier or JetBlueSpirit Airlines shareholders could pick a preferred buyer for their airline today, when they are scheduled to vote on one of the offers for the budget carrier. If shareholders reject the Frontier bid it would push for an agreement with JetBlue Airways.
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Spirit, Frontier end merger bid, paving way for JetBlue dealSpirit Airlines and Frontier Airlines agreed Wednesday to abandon their merger proposal, opening the way for JetBlue Airways to acquire Spirit.
Herkunft: DenverChannel - 🏆 239. / 63 Weiterlesen »
Spirit, Frontier abandon merger bid, paving way for JetBlue dealThe Frontier offer was worth more than $2.6 billion in cash and stock, far short of JetBlue's all-cash bid of $3.7 billion.
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