JetBlue Submits Enhanced Superior Proposal to Acquire Spirit
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Spirit Airlines (SAVE) Board of Directors Reiterates Support for Merger with Frontier Airlines (ULCC)
May 2, 2022 7:43 AM UTCSpirit Airlines, Inc. ("Spirit" or the "Company") (NYSE: SAVE) today announced that its Board of Directors (the "Board"), in consultation with outside financial and legal advisors, has unanimously determined that the unsolicited proposal received from JetBlue Airways ("JetBlue") (NASDAQ: JBLU) does not constitute a 'Superior Proposal' as defined in Spirit's merger agreement with Frontier Group Holdings, Inc. ("Frontier") (NASDAQ: ULCC), parent company of Frontier Airlines, Inc., because it has determined that the proposed transaction is not reasonably capable of being consummated. The Board... More
