JetBlue gets aggressive in its pursuit of Spirit Airlines
Shareholders of the US ultra-low cost carrier (ULCC) Spirit will soon vote on endorsing a recommendation from the company’s board of directors to merge with fellow ULCC Frontier, despite JetBlue’s offer of a higher price per share.
But JetBlue has now launched a hostile takeover bid for Spirit, claiming Spirit's board did not engage constructively on JetBlue's bid for Spirit.
It is the latest twist in the fate of Spirit, which remains unknown until its shareholders weigh in.
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