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POTENTIAL DEAL DETAILS
| Stock | Spirit Airlines, Inc. | Symbol | SAVE |
| Date Announced | 04/05/2022 | Source | Press Release |
| Type | Unsolicited Bid | Acquiring Company/Person | JetBlue Airways Corporation |
| Date of Confirmation: | 07/28/2022 | Price at Confirmation: | $24.30 |
| Potential Profit: | -7.81% | Annualized Profit: | -25.02% |
JetBlue (JBLU) confirmed it has submitted a proposal to the Board of Directors of Spirit (SAVE) to acquire Spirit for $33 per share in cash, implying a fully diluted equity value of $3.6 billion and providing full and certain value to Spirit shareholders
Update(s):
April 5, 2022: Spirit Airlines, Inc. (SAVE) announced that it has received an unsolicited proposal from JetBlue Airways (JBLU) to acquire all of the outstanding shares of Spirit’s common stock in an all-cash transaction for $33.00 per share.
April 7, 2022: Spirit Airlines, Inc. (SAVE) announced that its Board of Directors has determined, that the unsolicited proposal received from JetBlue Airways (JBLU) to acquire Spirit in an all-cash transaction for $33.00 per share could reasonably be likely to lead to a “Superior Proposal” as defined in Spirit’s merger agreement with Frontier Group Holdings, Inc. (ULCC), the parent company of Frontier Airlines, Inc.
May 02, 2022: Spirit Airlines, Inc. (SAVE) announced that its Board of Directors, has unanimously determined that the unsolicited proposal received from JetBlue Airways (JBLU) does not constitute a ‘Superior Proposal’ as defined in Spirit’s merger agreement with Frontier Group Holdings, Inc. (ULCC), the parent company of Frontier Airlines, Inc., because it has determined that the proposed transaction is not reasonably capable of being consummated.
May 2, 2022: JetBlue (JBLU) announced it has enhanced its proposal to the Board of Directors of Spirit (SAVE) to acquire all of the outstanding common stock of Spirit for $33 cash per share.
Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.