Salem Radio Network News Tuesday, July 5, 2022


JetBlue Tries to Buy Spirit Airlines


JetBlue Airways on Monday increased its offer to buy Spirit Airlines. Keith Peters has this report.

That raises the stakes again in a battle over the nation’s biggest budget airline. JetBlue increased its cash offer to $33.50 per share, or more than $3.6 billion. That’s an increase per share of $2 over a June 6 offer and 50 cents over JetBlue’s original April bid. Frontier Airlines put Spirit in play in February when boards of the two airlines agreed to a merger in which Spirit shareholders would get cash and 48.5% of the combined company. That deal was originally valued around $2.9 billion but has lost value because of a decline in Frontier’s stock price. Keith Peters reporting.


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