A Frontier Airways aircraft close to a Spirit Airways aircraft on the Fort Lauderdale-Hollywood Worldwide Airport on Could 16, 2022 in Fort Lauderdale, Florida.
Joe Raedle | Getty Photos
Frontier Airways sweetened its provide to mix with fellow finances service Spirit Airways, that airline stated late Friday, lower than every week earlier than Spirit shareholders are set to vote on the deal.
The brand new provide, $2 per share greater than Frontier’s unique cash-and-stock bid, comes after JetBlue Airways repeatedly upped its provide to purchase Spirit outright, an an all-cash deal.
Frontier additionally elevated its provide for a reverse break-up payment if the deal does not get accepted with regulators, to $350 million, from $250 million, beforehand. That matches the reverse break-up payment JetBlue provided.
Shares of Spirit and Frontier every rose in after-hours buying and selling after Spirit’s assertion. JetBlue was barely decrease.
That is breaking information. Please examine again for updates.