Spirit's offer from JetBlue Adds $2 per share

[SWAMECH]

JetBlue get's even more serious about not getting left out of any merger.

JetBlue sweetens offer for Spirit to fend off Frontier bid

WASHINGTON (Reuters) -JetBlue Airways said Monday it had sweetened its takeover offer for Spirit Airlines to $33.50 per share in a bid to convince the ultra-low cost carrier to accept its offer over rival Frontier Airlines' proposal. Spirit’s board had previously rejected the JetBlue offer...

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[SWAMECH]

And now Frontier revises bid for Spirit to help win out Spirit shareholders in supporting a Frontier merger, very smart move Frontier.

Spirit Airlines Announces Amended Merger Agreement with Frontier, Including Increased Per-Share Cash Consideration and $350 Million Reverse Termination Fee

MIRAMAR, Fla., June 24, 2022--Spirit Airlines, Inc. ("Spirit" or the "Company") (NYSE: SAVE) today announced the signing of a second amendment (the "Amended Agreement") to its previously announced merger agreement with Frontier Group Holdings, Inc. ("Frontier") (NASDAQ: ULCC), parent company of...

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[SWAMECH]

And ISS flips and flops on recommendation in merger war over Spirit. A winning move by Frontier to increase it's offer as well as increase the upfront payment by .72. Like I said before, pretty sure that will seal the deal for a Frontier/Spirit merger to get approval by Spirit shareholders...

ISS urges Spirit shareholders to vote for Frontier offer

Spirit is the subject of a bidding war between Frontier and JetBlue Airways Corp. The proxy advisory firm last month asked Spirit shareholders to reject Frontier's offer, saying JetBlue's competing offer of $30 a share is superior from a financial standpoint.

finance.yahoo.com

 

[SWAMECH]

Another change in JetBlue's offer, increasing cash, prepayment and break up fee...

JetBlue refuses to give up its quest for Spirit Airlines

JetBlue Airways Corp on Monday ratcheted up its bidding war with Frontier Group Holdings for Spirit Airlines Inc as the race for the ultra-low-cost carrier enters the final stretch. Under the new offer, JetBlue offered a "ticking fee," which would give Spirit shareholders a monthly prepayment...

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JetBlue Welcomes Support for Superior Offer to Acquire Spirit

NEW YORK, June 28, 2022--JetBlue Welcomes Support for Superior Offer to Acquire Spirit

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[SWAMECH]

Tomorrow is the big day for Spirit/Frontier and JetBlue employees and shareholders. If I were to place a bet in Vegas on the turn out I would have to put my money on a Frontier/Spirit vote from shareholders. The "ticking fee" added by JetBlue doesn't pay off quick enough, IMO, for shareholders to vote for a JetBlue/Spirit tie up.

Still no word from NMB on AMFA election at Spirit so far. However, it would be very beneficial for a Frontier/Spirit tie up, Spirit brings in AMFA and then a second vote between the two unions merging into one union. With the current card drive @ JB for their Mechanics, they will come on board eventually all the while two more airlines will become AMFA represented Mechanics thru the merger of Frontier and Spirit bringing a total of 5 airlines wanting the Class and Craft Representation of AMFA for the Mechanics. Hopefully won't be long on the NMB announcement.

Anyone involved in the AMFA election and have questions contact AMFA National or even ask away here on the forums if some of you may want a bias third party answer. The rhetoric will pick up from other industrial unions trying to derail the AMFA election as they always do because the industrial unions are just scared to death of AMFA taking over all the airlines Mechanics with their Class and Craft type of representation like most all the Pilots have, a much, much better focused representation. Good luck to all on the upcoming mergers and elections...

Spirit Airlines Sticks To Merger With Frontier

Spirit Airlines Inc (NYSE: SAVE) reaffirmed its commitment to its merger agreement with Frontier Group Holdings Inc. (NASDAQ: ULCC), the parent company of Frontier Airlines, Inc. The affirmation comes after JetBlue Airways Corp (NASDAQ: JBLU) proposed yet another upgrade to its takeover...

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[SWAMECH]

No longer is today the day YET again. Spirit shuts down the shareholders meeting as it appears they did NOT have the vote they wanted. Interesting. First article is CEO of Spirit so confident in the Spirit/Frontier merger vote from shareholders. That was 10am yesterday, now we have a canceled shareholders meeting once again to help educate the shareholders? Oh my this could get very interesting. How unprofessional to say you need to further explain or educate the shareholders.
On a second note; this extra time called for could very well get JetBlue in the mood to also pad the offer or at least make further adjustments to favor the shareholders just a slight bit more.
Second article is the very quickly cancelation of the shareholders vote as, IMO, Spirit did not see going it's way/favor...


https://www.yahoo.com/finance/video/spirit-airlines-ceo-jetblue-posturing-151314851.html

Spirit Again Delays Vote on Frontier Merger, Eyes More Talks

(Bloomberg) -- Spirit Airlines Inc. delayed a shareholder vote on its proposed merger with Frontier Group Holdings Inc. less than 24 hours before it was scheduled, saying management needs more time for talks with its favored partner and rival suitor JetBlue Airways Corp.Most Read from...

finance.yahoo.com

 

[SWAMECH]

Just love how all the analyst keep guessing on what will happen. No matter who gets to purchase Spirit, of course their ticket prices will go up. Weather Frontier or JB, they are spending Billions to purchase Spirit, they will have to get their money back over time, and in a nutshell will have to charge higher ticket prices as well as with the higher cost of fuel will also have to charge higher ticket prices. BOTH airlines have already said they want to purchase Spirit in order to better compete with the bigger 4 airlines, so, what this means is they will move from ULCC carriers now (Frontier and Spirit) and move into the same group as the big 4. The same if JetBlue wins the purchasing rights except JB is not considered a ULCC nor even an LCC, they have always been more considered with the big airlines that also do international flights, but, usually were at a lower cost, but not in same group as SWA LCC. IMO a Frontier/Spirit tie up would bring lower cost tickets into the market (when competing with the bigger 4 after merger) than a merger with JB would.
Either merger will get them into 5th as far as size but a JB/Spririt hook up would be approx 3-5% larger airline than the Frontier/Spirit combo...

Potential Spirit Airlines merger could reshape market for discount plane tickets

Spirit Airlines is considering two rival bids for a potential merger, which could spark major changes in the market for discount airline tickets. CBS News transportation correspondent Errol Barnett has more on what a deal could mean for consumers.

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[SWAMECH]

And yet again Spirit suspends shareholder vote for the 3rd time. Spirit did not AGAIN get enough support from shareholders to get a Frontier/Spirit vote. Like I said before Spirit, go for the JB/Spirit tie up, and when that one possibly gets shot down by DOJ take the $$$ break up fee and go get it done with Frontier.
Now the shareholders vote will be postponed until 7-15-22 OR maybe yet again Spirit will get scared to allow the shareholders to make the call THEY WANT...

Spirit postpones Frontier deal vote, to continue talks with Frontier and JetBlue

Spirit Airlines Inc said it has postponed a shareholder vote scheduled for Friday on its $2.4 billion sale to Frontier Group Holdings Inc so its board can continue discussions with both Frontier and JetBlue Airways. Over the past few months, JetBlue and Frontier, led by influential airline...

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[SWAMECH]

Maybe it should be Spirit purchasing JetBlue. Their balance sheets look way better IMO. At least better 2Q numbers.

Spirit Airlines Reports Second Quarter 2022 Results

Spirit Airlines, Inc. ("Spirit" or the "Company") (NYSE: SAVE) today reported second quarter 2022 financial results.

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