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Stock impact report

JetBlue Has Extended Its Tender Offer For Spirit. It Isn't Giving Up The Fight. [MarketWatch]

JetBlue Airways Corporation (JBLU) 
Last jetblue airways corporation earnings: 1/23 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: investor.jetblue.com/investor-relations
Company Research Source: MarketWatch
company's board to support its merger proposal instead of a competing one from rival Frontier Group Airlines. In a statement on Thursday, JetBlue (ticker: JBLU) said its offer to purchase all of the shares outstanding of Spirit (SAVE) for $30 per share in cash will now expire at 5 p.m. ET on Friday, July 29. The tender offer was previously set to expire on June 30. The extension comes after Spirit Airlines once again delayed a crucial vote on a proposed merger with Frontier (ULCC) , signaling that Spirit shareholders prefer a deal with Jet Blue. Spirit's board has backed a February agreement with Frontier despite increased pressure from JetBlue. Both Frontier and JetBlue have recently sweetened their offers for the low-cost carrier as they vie to create what would be the fifth biggest airline in the U.S. The Frontier stock-and-cash proposal values Spirit at roughly $2.4 billion, while JetBlue's all-cash offer totals about $3.6 billion. Shares in Spirit increased 4.2% to $ 24.8 Show less Read more
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