JetBlue Ups Offer for Spirit —Frontier Calls Foul

DALLAS – It’s like a game of poker, with both sides upping the ante nearly every day.

After consulting with shareholders, JetBlue (B6) yesterday modified its bid for Spirit (NK) by adding a ticking fee, increasing the reverse breakup fee to US$400m, and increasing the accelerated prepayment to shareholders to US$2.50 per share.

The airline has issued an open letter outlining its “superior” offer and encouraging Spirit shareholders not to be misled by the board of directors.

Both B6 and Frontier (F9) are locked in a bidding war to take over NK in an attempt to become the nation’s fifth-largest airline and read more ⇒

Source:: “Airways Magazine”

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