HomeFinanceJetBlue ups offer for Spirit Airlines ahead of shareholder vote | NEWSRUX

JetBlue ups offer for Spirit Airlines ahead of shareholder vote | NEWSRUX

LaGuardia Worldwide Airport Terminal A for JetBlue and Spirit Airways in New York.

Leslie Josephs | CNBC

JetBlue Airways once more elevated its supply for Spirit Airways as a shareholder vote for the discounter’s deal to merge with Frontier Airways is simply days away.

Frontier sweetened its supply on Friday and Spirit’s CEO instructed CNBC then that Spirit’s board nonetheless discovered that to be a superior bid.

JetBlue’s new supply raises the reverse break-up price to $400 million from $350 million and features a dividend to Spirit shareholders of $2.50 a share, up from a earlier supply of $1.50.

Spirit shares have been up 5% in afterhours buying and selling on the information, whereas JetBlue’s have been up lower than 1% and Frontier’s have been up 1%. Spirit and Frontier shares fell sharply in common buying and selling.

That is breaking information. Please examine again for updates.

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