We’ve previously reported on the offers by both Frontier and JetBlue to merge with Spirit. JetBlue’s offer was for more money but the marriage between two different types of airlines seems to be a mismatch.
Today Spirit reiterated that they do not intend to pursue a merger with JetBlue. In a press release, the Board of Directors for Spirit announced that they still support the merger between Frontier and Spirit Airlines.
Spirit’s board said the merger with JetBlue “does not constitute a ‘Superior Proposal’ as defined in Spirit’s merger agreement with Frontier Group Holdings, Inc., parent company of Frontier Airlines, Inc., because it has determined that the proposed transaction is not reasonably capable of being consummated.
The press release added that “the Board continues to believe that the pending transaction with Frontier represents the best opportunity to maximize value and recommends that Spirit shareholders adopt the merger agreement with Frontier. Spirit’s Board of Directors also issued the following letter to JetBlue.”
