Potential merger: A Spirit Airlines airplane on the tarmac at the O’Hare Airport in Chicago. The airline is reviewing an offer by JetBlue Airways for a takeover. — Reuters
WASHINGTON: JetBlue Airways said it made an unsolicited US$3.6bil (RM15.19bil) bid for Spirit Airlines, potentially snarling merger plans between the ultra-low-cost carrier and Frontier Group Holdings.
JetBlue offered US$33 (RM139) a share all cash, about 33% higher than Frontier’s offer of 1.9126 shares of stock and US$2.13 (RM8.99) in cash, which would value Spirit at US$24.93 (RM105) per share as of yesterday’s closing price.
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