JetBlue sweetens Spirit takeover offer with 'ticking fee'

Reuters

Mon, Jun 27, 2022, 6:07 PM1 min read

In this article:

June 27 (Reuters) - JetBlue Airways Corp on Monday sweetened its offer for Spirit Airlines Inc with a 'ticking fee' and higher reverse termination fee, hoping to woo Spirit's shareholders from taking up Frontier Group's offer.

JetBlue said the ticking fee, which would give Spirit shareholders a monthly prepayment of 10 cents per share between January 2023 and the closing of the deal, bumps up the total price for Spirit to $34.15 per share.

JetBlue last week had sweetened its takeover offer for Spirit to $33.50 per share. (Reporting by Shariq Khan; Editing by Shailesh Kuber)

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JetBlue sweetens Spirit takeover offer with 'ticking fee'

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