Spirit Airlines, Inc. on Wednesday rejected a merger proposal by rival Frontier Group Holdings, Inc., stressing that it would not be beneficial to its stakeholders.In a regulatory filing, Spirit explained that under the proposal, its stakeholders would receive $400 million in debt and 19% share in...
Frontier Airlines, Inc.'s parent company Frontier Group Holdings, Inc. confirmed on Wednesday that it made "a compelling proposal" to merge with Spirit Airlines, Inc., which filed for bankruptcy protection back in November. The company said that the proposed transaction would bring significant value...
United States Department of Transportation (DOT) said on Wednesday that it is filing a lawsuit against Southwest Airlines and fining Frontier Airlines for "operating multiple chronically delayed flights."According to the DOT, Southwest's flights from Chicago Midway International Airport to Oakland,...
The shares of Spirit Airlines Inc. plummeted by more than 60% on Wednesday after a potential merger with Frontier Airlines fell through, leading the company to prepare to file for bankruptcy, according to the Wall Street Journal.The American airline was previously reported to be nearing a deal to...
The shares of Spirit Airlines, Inc. popped in the premarket on Wednesday as traders assessed the latest report regarding the firm's negotiations with Frontier Airlines.Earlier, sources told The Wall Street Journal that Frontier was in talks with Spirit yet again over a potential merger. Nonetheless, it was...
JetBlue Airways Corporation announced on Thursday that the company reached an agreement to acquire Spirit Airlines Inc. for $33.50 per share in cash or $3.8 billion.
Including Spirit's adjusted net debt of $3.8 billion, the entire transaction is valued at $7.6 billion. The deal will result in the creation of a...
Spirit Airlines terminated on Wednesday its merger deal with Frontier Airlines and is set to continue negotiations with JetBlue Airways.
The two airlines had agreed a $6.6 billion merger in February but in April, JetBlue offered to buy Spirit for $3.6 billion, causing it to delay a shareholder vote on the...
The shareholders of American low-cost carrier Spirit Airlines Inc. decided on Wednesday to postpone the voting on the merger agreement with Frontier Airlines Holdings, Inc. to July 27.
"We still remain very far from obtaining approval from Spirit stockholders based on the proxy data we received as of...
Discovery Capital, Spirit's shareholder, announced Tuesday that it urged Spirit's board of directors to walk away from the Frontier deal, a step that would favor the agreement with JetBlue.
"We echo the opinion of ISS that the JetBlue proposal is more favorable, and we implore SAVE management...
Spirit Airlines Inc. delayed the vote on a merger proposed by Frontier Group Holdings Inc, that was scheduled for June 30.
The company noted it needs more time to further consider the buyout offer by JetBlue Airways Corp. after the two airlines upped their bids in the week leading up to the vote....
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