JetBlue Ups Offer to Wrestle Spirit from Frontier Bid

DALLAS – JetBlue (B6) really wants to buy Spirit Airlines (NK). It wants to acquire the discount carrier so badly that it has raised the stakes even higher in the bidding war for the carrier—the nation’s largest budget airline.

The AP is reporting that Spirit has raised its offer to US$33.50 per share, US$2 more per share than its offer last week. Spirit has 108.62 million shares outstanding. You do the math.

JetBlue is trying to outbid Frontier (F9), which agreed to buy Spirit in February. NK shareholders are scheduled to vote on the Frontier offer next week. But B6’s offer is read more ⇒

Source:: “Airways Magazine”

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