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{"id":5977,"date":"2022-05-17T14:47:32","date_gmt":"2022-05-17T14:47:32","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/05\/17\/jetblue-launches-hostile-takeover-of-spirit-after-its-earlier-acquisition-was-rejected\/"},"modified":"2022-05-17T14:47:33","modified_gmt":"2022-05-17T14:47:33","slug":"jetblue-launches-hostile-takeover-of-spirit-after-its-earlier-acquisition-was-rejected","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/05\/17\/jetblue-launches-hostile-takeover-of-spirit-after-its-earlier-acquisition-was-rejected\/","title":{"rendered":"JetBlue launches hostile takeover of Spirit after its earlier acquisition was rejected"},"content":{"rendered":"

Source: https:\/\/www.theverge.com\/2022\/5\/16\/23074907\/jetblue-spirit-hostile-takeover-budget-airline-frontier<\/a>
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JetBlue launched a hostile takeover of Spirit Airlines after its earlier acquisition offer was rejected. The New York-based airline said in a release<\/a> that its tender offer for $30-per-share was \u201call-cash\u201d and \u201cfully financed.\u201d <\/p>\n

Earlier this month, Spirit\u2019s board of directors rejected JetBlue\u2019s $33-a-share bid to acquire the airline in favor of an existing merger agreement with Frontier<\/a>, one of its ultra-low-cost competitors. The board cited antitrust issues and \u201can unacceptable level of closing risk\u201d to its shareholders as its reasons for rejecting the JetBlue bid. <\/p>\n

But JetBlue is still intent on acquiring Spirit, whether it wants to go ahead with the deal or not. The airline has said that absorbing Spirit would allow it to better compete with the \u201cBig Four\u201d carriers by increasing the size of its fleet and roster of trained pilots. <\/p>\n

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