LONDON – In a strange turn of events, Spirit Airlines has confirmed it has received an unsolicited offer from JetBlue for $33 per share on all of its outstanding common stock.
As we all know, Spirit Airlines & Frontier Airlines will be merging but is still subject to approval by regulatory authorities and Spirit stockholders.
This unsolicited proposal will be evaluated by lawyers representing Spirit as well as by The Board of Spirit in accordance with the terms of the company’s merger agreement with Frontier and respond in due course.
Based on the offer, this would value Spirit at $3.6bn, which is far more than the valuation of the merger with Frontier.
This is a developing story.