{"id":126929,"date":"2022-05-19T19:00:00","date_gmt":"2022-05-19T19:00:00","guid":{"rendered":"https:\/?p=126929"},"modified":"2022-05-19T21:47:53","modified_gmt":"2022-05-19T21:47:53","slug":"spirit-board-of-directors-urges-stockholders-to-reject-jetblue-tender-offer","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2022\/05\/spirit-board-of-directors-urges-stockholders-to-reject-jetblue-tender-offer.html","title":{"rendered":"Spirit board of directors urges stockholders to reject JetBlue tender offer"},"content":{"rendered":"\n

Spirit Airlines<\/strong> urged shareholders to reject a hostile bid by JetBlue <\/strong>on Thursday, saying it was \u201ca cynical attempt to disrupt\u201d its merger with Frontier.<\/p>\n\n\n\n

JetBlue says its $30 a share offer is superior to the value of Frontier\u2019s cash-and-stock deal and regulatory concerns are not a reason to reject its bid. Shareholders are set to vote on Frontier\u2019s offer, which currently values Spirit at about $20.18 per share, on June 10.<\/p>\n\n\n\n

\u2192 Jetblue announces Direct Flights Between Boston and London.<\/a><\/strong><\/em><\/p>\n\n\n\n

Spirit questioned JetBlue\u2019s disclosure Monday that acquiring Spirit has been a \u201cstrategic\u201d objective for many years, adding that antitrust issues would mean a deal could not be completed.<\/p>\n\n\n\n

JetBlue, which in early April offered $33 per share, argues a deal will help it better compete with the \u201cBig Four\u201d U.S. airlines that control nearly 80% of the passenger market.<\/p>\n\n\n\n

\u201cDuring the extensive discussions held between Spirit and JetBlue, JetBlue itself admitted that a lawsuit from DOJ seeking to block the merger was a 100% certainty; therefore, JetBlue would have to prevail or settle (which would be contrary to DOJ\u2019s avowed enforcement approach) in order to consummate its proposed acquisition of Spirit,\u201d Spirit said in a statement.<\/p>\n\n\n\n

\u201cJetBlue\u2019s focus on Spirit appears to be an attempt to distract from the fact that JetBlue\u2019s own business is in disarray,\u201d Spirit said on Thursday, adding that its rival\u2019s stock price had fallen about 34% since March 29.<\/p>\n\n\n\n

\u2192 United requests authorization to fly nonstop between Washington D.C. and Cape Town.<\/a><\/em><\/strong><\/p>\n\n\n\n

For its part, Jetblue reacted to the Spirit Airlines Board’s recommendation by saying, “It is no surprise that Spirit shareholders are getting more of the same from the Board of Directors.”<\/p>\n\n\n\n

“Spirit’s Board, driven by serious conflicts of interest, continues to ignore the best interests of its shareholders by distorting the facts to distract from its flawed process and protect its inferior deal with Frontier.”<\/p>\n\n\n\n

“As far as regulatory approval is concerned, Spirit wants you to ignore the current regulatory climate to think that approval of its deal with Frontier is assured. That is not true. Both transactions are subject to regulatory review, and both have a similar risk profile. Spirit shareholders recognize this and are showing a keen interest in learning more about our superior offer and the regulatory commitments and protections we have made, including a reverse breakup fee, Jetblue added.<\/p>\n\n\n\n

Photo: Alan Wilson\/Wikimedia<\/a><\/p>\n\n\n\n

Related Topics<\/h2>\n\n\n\n\t\t\t
\n\n\t\t\t\t\t\t\t\t\t\t\t\t
\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t

\n\t\t\t\tJetSmart Launches “All You Can Fly”: Annual Membership for Unlimited Flights Across South America<\/a>\n\t\t\t<\/h4>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\tRead More<\/a>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t

\n\t\t\t\tRegional Alliance at FIDAE: Seven Countries Promote Sustainable Aviation Fuel (SAF) Corridor in Latin America<\/a>\n\t\t\t<\/h4>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\tRead More<\/a>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t

\n\t\t\t\tCopa Airlines Resumes Flights to Valencia, Advancing Recovery of its Destination Network in Venezuela<\/a>\n\t\t\t<\/h4>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\tRead More<\/a>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t

\n\t\t\t\tAbra Group Solidifies Leadership in 2025 with $9.7 Billion in Revenue<\/a>\n\t\t\t<\/h4>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\tRead More<\/a>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t","protected":false},"excerpt":{"rendered":"Spirit Airlines urged shareholders to reject a hostile bid by JetBlue on Thursday, saying it was \u201ca cynical…\n","protected":false},"author":4316,"featured_media":126883,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","footnotes":""},"categories":[1],"tags":[230,197,511,424,221],"class_list":{"0":"post-126929","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-airlines","8":"tag-airline","9":"tag-airlines","10":"tag-jetblue-2","11":"tag-spirit-airlines-2","12":"tag-usa"},"uagb_featured_image_src":{"full":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320.jpg",800,400,false],"thumbnail":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320-150x150.jpg",150,150,true],"medium":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320-300x150.jpg",300,150,true],"medium_large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320-768x384.jpg",768,384,true],"large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320.jpg",800,400,false],"1536x1536":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320.jpg",800,400,false],"2048x2048":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320.jpg",800,400,false],"pk-small":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320.jpg",80,40,false],"pk-thumbnail":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320.jpg",300,150,false],"csco-small":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320-80x80.jpg",80,80,true],"csco-intermediate":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320-200x140.jpg",200,140,true],"csco-thumbnail":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320-380x220.jpg",380,220,true],"csco-thumbnail-alternative":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320-300x180.jpg",300,180,true],"csco-thumbnail-uncropped":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320-380x190.jpg",380,190,true],"csco-medium":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320.jpg",800,400,false],"csco-medium-alternative":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320-560x336.jpg",560,336,true],"csco-medium-uncropped":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320.jpg",800,400,false],"csco-large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320.jpg",800,400,false],"csco-large-uncropped":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320.jpg",800,400,false],"csco-extra-large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/05\/Spirit-Airlines-Airbus-A320.jpg",800,400,false]},"uagb_author_info":{"display_name":"Redacci\u00f3n - Aviaci\u00f3n al D\u00eda","author_link":"https:\/\/aviacionaldia.com\/en\/author\/aad"},"uagb_comment_info":0,"uagb_excerpt":"Spirit Airlines urged shareholders to reject a hostile bid by JetBlue on Thursday, saying it was \u201ca cynical…","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts\/126929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/users\/4316"}],"replies":[{"embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/comments?post=126929"}],"version-history":[{"count":2,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts\/126929\/revisions"}],"predecessor-version":[{"id":126931,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts\/126929\/revisions\/126931"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/media\/126883"}],"wp:attachment":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/media?parent=126929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/categories?post=126929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/tags?post=126929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}