{"id":38903,"date":"2022-06-06T14:24:22","date_gmt":"2022-06-06T14:24:22","guid":{"rendered":"https:\/\/harchi90.com\/jetblue-sweetens-offer-in-buyout-race-for-spirit-airlines\/"},"modified":"2022-06-06T14:24:22","modified_gmt":"2022-06-06T14:24:22","slug":"jetblue-sweetens-offer-in-buyout-race-for-spirit-airlines","status":"publish","type":"post","link":"https:\/\/harchi90.com\/jetblue-sweetens-offer-in-buyout-race-for-spirit-airlines\/","title":{"rendered":"JetBlue sweetens offer in buyout race for Spirit Airlines"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"group\">\n<p>JetBlue Airways on Monday improved its offer to buy smaller rival Spirit Airlines, as the battle for the low-cost carrier intensifies.<\/p>\n<p>Shares of Spirit jumped 6.2% to $ 22 premarket.<\/p>\n<p>Under JetBlue&#8217;s new terms, Spirit shareholders will get $ 31.50 per share in cash, comprising $ 30 at deal close and prepayment of $ 1.50 from a raised reverse break-up fee.  Its earlier offer was for $ 30 per share.<\/p>\n<p>The move comes days before a June 10 shareholder vote on a competing offer from Frontier Group Holdings.<\/p>\n<\/div>\n<div class=\"group\">\n<p>Spirit had rejected JetBlue&#8217;s offer last month saying it had a low likelihood of winning approval from government regulators.<\/p>\n<p>On Monday, JetBlue raised its reverse break-up fee by $ 150 million to $ 350 million, which is payable to Spirit shareholders in case the deal falls through due to antitrust reasons.<\/p>\n<p>Frontier had agreed to pay $ 250 million in break-up fees.<\/p>\n<p>Last week, proxy advisory firm Glass Lewis recommended that Spirit Airlines investors approve the deal with Frontier Group after another proxy firm, Institutional Shareholder Services Inc, advised against it.<\/p>\n<\/div>\n<\/div>\n<p>    .<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JetBlue Airways on Monday improved its offer to buy smaller rival Spirit Airlines, as the battle for the low-cost carrier intensifies. Shares of Spirit jumped 6.2% to $ 22 premarket. Under JetBlue&#8217;s new terms, Spirit shareholders will get $ 31.50 per share in cash, comprising $ 30 at deal close and prepayment of $ 1.50 &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/harchi90.com\/jetblue-sweetens-offer-in-buyout-race-for-spirit-airlines\/\"> <span class=\"screen-reader-text\">JetBlue sweetens offer in buyout race for Spirit Airlines<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[8],"tags":[1395,230,116,118,1975,1976,2436],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107063727-1652961223721-gettyimages-1397587631-029a7441_d8f74247-751c-40ef-ad27-8311a7cae28e.jpeg?v=1652961343&w=1920&h=1080","_links":{"self":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/38903"}],"collection":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/comments?post=38903"}],"version-history":[{"count":0,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/38903\/revisions"}],"wp:attachment":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media?parent=38903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/categories?post=38903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/tags?post=38903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}