(Spirit) Spirit Airlines has for another time rejected an improved offer from JetBlue, saying it contains inaccurate statements and mischaracterizations.
Spirit says the new and improved $30 per share from JetBlue is not in the best interests of the company and its stockholders.
Spirit’s Board said that the transaction with JetBlue faces significant regulatory issues. The company said the deal is incapable of being consummated and carries no superiority to Frontier.
Besides the regulatory risks, Spirit says JetBlue’s conditions subject the stockholders to substantial risks from stock market volatility and fluctuating market conditions.
The company instead said that it favors a merger with Frontier. The board said that the pending merger with Frontier is on course as planned, pointing to the projected date of June 10th for the combination.
SAVE is down -1.85% on premarket, JBLU is down -0.50%, ULCC is down -0.42%.
