The deal is valued at $6.6-billion when accounting for the assumption of debt and other liabilities.
The carriers may be in for a very close look by antimonopoly regulators. The Biden administration has signalled a tougher line against big corporate mergers. Yet airlines have suffered a devastating stretch during the pandemic despite assistance from the U.S., and are in a weakened position heading into 2022.
Spirit shareholders will receive 1.9126 shares of Frontier plus $2.13 in cash for each existing Spirit share they own. This implies a value of $25.83 per Spirit share at Frontier’s closing stock price of $12.39 on Friday.
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: