Business

JetBlue to Launch Tender Offer for Spirit, Urge Shareholders to Vote Against Frontier Deal



JetBlue Airways Corp. plans to launch a hostile takeover try for low cost provider Spirit Airways Inc., in line with individuals conversant in the matter, after Spirit rejected JetBlue’s $3.6 billion provide in favor of an present take care of Frontier Airways.

JetBlue plans to attraction on to Spirit’s shareholders by launching a tender offer for his or her shares, in hopes of pressuring Spirit’s administration to re-engage in negotiations, the individuals stated. On the identical time, JetBlue plans to induce Spirit shareholders to vote in opposition to Spirit’s deliberate merger with Frontier Group Holdings on June 10 in an extra effort to sway the corporate’s leaders, the individuals stated.



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