The BoD Spirit Airlines continues to advise shareholders to support the planned merger with Frontier Group Holdings, with the company planning to hold a teleconference later today with analysts to discuss the board’s opposition. in the offer from JetBlue Airways.
Last week, Spirit executives stressed that the $ 3.3 billion proposal from JetBlue involves too much regulatory risk and that the board continued to support Spirit’s agreed merger with Frontier, in an agreement that would create the fifth largest U.S. airline.
JetBlue has offered $ 30 per share for Spirit and said it could increase the offer to $ 33.
JetBlue last week brought the offer directly to Spirit shareholders following Spirit’s previous rejection, and offered to pay the highest amount per share if Spirit’s management were involved in the negotiations, in a bid to pressure Spirit’s management to reconsider JetBlue’s proposal.
Source: Capital
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