Frontier Airlines has sweetened its offer to combine with fellow budget carrier Spirit, less than a week before Spirit shareholders are set to vote on the deal.
"We will more thoroughly review and assess the revised terms of the Frontier-Spirit merger agreement, and we intend to continue our 'vote no' campaign against the inferior Frontier transaction at the special meeting," JetBlue said in a statement Friday.
The new offer, which was announced late Friday, also increases a proposed reverse break-up fee by $100 million to $350 million, in the event the deal doesn't get approved by regulators. That matches the reverse break-up fee JetBlue has offered. Frontier's new offer includes a pre-payable amount of $2.22 to Spirit shareholders.
Christie said the board still had regulatory concerns about JetBlue's Northeast Alliance with American Airlines, which allows the carriers to coordinate on flights and book passengers on each other's planes. The Department of Justice last year sued to undo that partnership.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Spirit renews support for Frontier merger after it boosts offerSpirit Airlines Inc said on Friday it has renewed its support for a merger deal after Frontier Group Holdings raised its cash offer by $2 per share to buy its rival ultra-low cost airline, according to a regulatory filing.
Lire la suite »
Spirit renews support for Frontier merger after it boosts offerSpirit Airlines Inc said on Friday it has renewed its support for a merger deal after Frontier Group Holdings raised its cash offer by $2 per share to buy its rival ultra-low cost airline, according to a regulatory filing.
Lire la suite »
United Airlines pilot union votes to approve two-year pay dealUnited Airlines Holdings Inc's pilot union leaders on Friday approved a tentative deal that would give pilots more than 14% in pay raises within the next 18 months when calculated from the beginning of the year.
Lire la suite »
In anticipation of the Roe decision, a new photo exhibit pushes for action on abortion accessA new photo exhibit from a renowned photojournalist pushes for action on abortion access in the face of the looming Roe decision, documenting the violence, love and spirit in women's lives.
Lire la suite »