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JetBlue Makes Hostile Bid for Spirit Airlines

DALLAS – JetBlue (B6) has filed a “Vote No” proxy statement asking Spirit (NK) shareholders to vote AGAINST what it says is an inferior, high-risk, and low-value Spirit/Frontier (F9) merger at NK’s impending special meeting.

Furthermore, B6 has launched an all-cash, fully financed tender offer to acquire all of Spirit’s existing shares for US$30 per share, without interest and less any statutory withholding taxes. Given the NK Board of Directors’ refusal to release the same due diligence information as Frontier, B6 is now offering to acquire Spirit for US$30 per share in cash via a fully financed tender offer.

The new offer read more ⇒

Source:: “Airways Magazine”

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