JetBlue and Spirit near takeover deal that could come Thursday Source
July 28 (Reuters) – JetBlue Airways Airlines (JBLU.O) Nearing a deal to buy Spirit Airlines (Save. N) It could be announced as soon as Thursday, a source familiar with the matter said, after Spirit canceled its $2.7 billion sale to Frontier Group Holdings. (ULCC.O) . The latest development marks a victory for JetBlue in its months-long battle for the ultra-low-cost carrier, although the potential group is expected to start a fight with antitrust regulators, who have already sued to block JetBlue’s alliance with American Airlines. (AAL.O) . The combination of JetBlue and Spirit will create the fifth largest airline in the US and will be the most significant merger in the US aviation industry since the Alaska Air Group (ALK.N) It bought Virgin America Inc for $2.6 billion in 2016. Register now to get free unlimited access to Reuters.com Register The source said JetBlue is offering terms similar to what it proposed earlier. In June, JetBlue offered $33.50 per share to Spirit, or approximately $3.7 billion, and breakup fees of $400 million.
JetBlue and Spirit near takeover deal that could come Thursday Source
July 28 (Reuters) – JetBlue Airways Airlines (JBLU.O) Nearing a deal to buy Spirit Airlines (Save. N) It could be announced as soon as Thursday, a source familiar with the matter said, after Spirit canceled its $2.7 billion sale to Frontier Group Holdings. (ULCC.O) . The latest development marks a victory for JetBlue in its months-long battle for the ultra-low-cost carrier, although the potential group is expected to start a fight with antitrust regulators, who have already sued to block JetBlue’s alliance with American Airlines. (AAL.O) . The combination of JetBlue and Spirit will create the fifth largest airline in the US and will be the most significant merger in the US aviation industry since the Alaska Air Group (ALK.N) It bought Virgin America Inc for $2.6 billion in 2016. Register now to get free unlimited access to Reuters.com Register The source said JetBlue is offering terms similar to what it proposed earlier. In June, JetBlue offered $33.50 per share to Spirit, or approximately $3.7 billion, and breakup fees of $400 million.