Spirit Says Frontier Tie-Up Less Risky Than JetBlue Takeover

By Matthew Perlman (May 20, 2022, 7:49 PM EDT) -- Spirit Airlines Inc. is urging shareholders to reject a hostile $7 billion takeover bid from JetBlue Airways Corp. in favor of a planned $6.6 billion merger with Frontier Group as the airlines spar over which potential deal is more likely to be challenged by regulators.

Spirit issued a statement Thursday saying its board of directors had determined that JetBlue's unsolicited offer to purchase the company for $30 per share in cash is not in the best interest of shareholders and should be rejected. Mac Gardner, chairman of Spirit's board of directors, said the latest offer does not cure the primary problem...

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