JetBlue to Launch Tender Offer for Spirit, Urge Shareholders to Vote Against Frontier Deal

JetBlue Airways Corp. plans to make a hostile takeover attempt on the discount airline Morale Airlines Inc., according to people familiar with the matter, after Spirit rejected JetBlue’s $3.6 billion offer in favor of an existing deal with Frontier Airlines.

JetBlue plans to appeal to Spirit shareholders directly by launching an offer to buy their shares, hoping to pressure Spirit’s management to re-engage in negotiations, but this person said. At the same time, JetBlue plans to urge Spirit shareholders to vote against Spirit’s planned merger with Frontier Group Holdings on June 10 in a further attempt to sway the company’s leaders, the people said.

https://www.wsj.com/articles/jetblue-to-launch-tender-offer-for-spirit-urge-shareholders-to-vote-against-frontier-deal-sources-say-11652688356?mod=pls_whats_news_us_business_f JetBlue to Launch Tender Offer for Spirit, Urge Shareholders to Vote Against Frontier Deal

Edmund DeMarche

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