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Merger Arbitrage Mondays – The Bidding War For Spirit Airlines Continues

  • June 13, 2022

After twelve new deals were announced during the prior two weeks, merger activity ground to a halt last week with no new deals announced. Oracle completed its massive $24.3 billion deal for healthcare software company Cerner and in a trend we have been seeing for several weeks, yet another SPAC business combination fell apart. There was plenty of activity in current deals that are yet to consummated, including Thoma Bravo negotiating a slightly lower price (a 3.41% cut) for Anaplan (PLAN), additional saber rattling between Elon Musk and Twitter (TWTR) where the company agreed to give Mr. Musk unrestricted access to its data through its “firehose” API and JetBlue (JBLU) sweeting its offer for Spirit (SAVE).

Editor’s Note: Our apologies if you are getting this article for a second time. For the first time in nearly 12 years of publishing the Merger Arbitrage Mondays series of posts, we happened to accidentally click on the publish button instead of the preview button while working on the article on Sunday. It is possible that some of you received an incomplete version of the article before we were done putting all the data together.

Starting next month, we will be rolling the Merger Arbitrage Mondays series into our paid subscription services, Inside Arbitrage Plus and Inside Arbitrage Premium. The more affordable Plus service focuses on content including a monthly special situations newsletter, a model portfolio and mid-month updates. The Premium service includes both content and a plethora of tools including our popular Merger Arbitrage Tool and various custom screeners like the Spinsider and The Double Dipper. You can sign up for these services here.

The Battle for Spirit Airlines (SAVE)

We wrote the following in our Merger Arbitrage post regarding Frontier Group’s (ULCC) acquisition of Spirit Airlines (SAVE).

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