Skip to Content
AP National Business

Rebuffed by Spirit, JetBlue goes hostile in takeover bid

KVIA
By
Published 4:38 AM

By DAVID KOENIG and MICHELLE CHAPMAN
AP Business Writers

JetBlue is going hostile in its bid for Spirit Airlines. And it’s asking Spirit shareholders to reject a proposed $2.9 billion acquisition by Frontier Airlines. Spirit shareholders are scheduled to vote June 10 on the Frontier bid, which is favored by Spirit’s board. Spirit has cited uncertainty about regulatory approval of JetBlue’s $3.6 billion offer for the Florida budget carrier. JetBlue said Monday that Frontier’s offer is high-risk and low-value. Shares of JetBlue Airways Corp. fell 6% while shares of Frontier, based in Denver, closed up 6%. Shares of Spirit, based in Miramar, Florida, jumped 13.5% but still closed well below either JetBlue offer, at $19.27.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KVIA ABC 7 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content