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{"id":4956,"date":"2022-05-03T15:07:52","date_gmt":"2022-05-03T15:07:52","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/05\/03\/spirit-will-continue-to-pursue-a-merger-with-frontier-instead-of-jetblue\/"},"modified":"2022-05-03T15:07:53","modified_gmt":"2022-05-03T15:07:53","slug":"spirit-will-continue-to-pursue-a-merger-with-frontier-instead-of-jetblue","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/05\/03\/spirit-will-continue-to-pursue-a-merger-with-frontier-instead-of-jetblue\/","title":{"rendered":"Spirit will continue to pursue a merger with Frontier instead of JetBlue"},"content":{"rendered":"

Source: https:\/\/www.theverge.com\/2022\/5\/2\/23053292\/spirit-merger-frontier-jetblue-airline<\/a>
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Spirit Airline\u2019s board of directors has rejected JetBlue\u2019s bid to acquire the airline and will proceed with its existing merger agreement with Frontier, one of its ultra-low-cost competitors, Spirit announced in a press release<\/a>. A deal with JetBlue has \u201ca low probability of receiving antitrust clearance\u201d and poses \u201can unacceptable level of closing risk\u201d to its shareholders, Spirit notes.<\/p>\n

After Frontier first announced its plans<\/a> to buy Spirit in a cash and stock deal valued at $2.9 billion in February, JetBlue followed up<\/a> with an all-cash offer of $3.6 billion last month. The airline even offered to throw in a $200 million breakup payout in case antitrust issues prevented the deal from going through. Despite all this, Spirit still rejected the deal, citing JetBlue\u2019s North American Alliance (NEA) with American Airlines as its main concern.<\/p>\n

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