News Formal

Frontier Airlines Sweetens Offer for Spirit Merger as Shareholder Vote Looms

  • 📰 nbcsandiego
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Frontier 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.

"We will more thoroughly review and assess the revised terms of the Frontier-Spirit merger agreement, and we intend to continue our 'vote no' campaign against the inferior Frontier transaction at the special meeting," JetBlue said in a statement Friday.

The new offer, which was announced late Friday, also increases a proposed reverse break-up fee by $100 million to $350 million, in the event the deal doesn't get approved by regulators. That matches the reverse break-up fee JetBlue has offered. Frontier's new offer includes a pre-payable amount of $2.22 to Spirit shareholders.

Christie said the board still had regulatory concerns about JetBlue's Northeast Alliance with American Airlines, which allows the carriers to coordinate on flights and book passengers on each other's planes. The Department of Justice last year sued to undo that partnership.

 

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

SWFTC

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:

 /  🏆 524. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

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

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 »

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 »