Frontier Airlines has made a new proposal to acquire Spirit Airlines for over $2.1 billion, significantly lower than the $2.9 billion deal planned in early 2022 which ultimately fell through. Spirit initially moved towards a merger with JetBlue Airways but was halted by the Justice Department's legal intervention. Following a series of financial difficulties and inability to settle its debts, Spirit filed for bankruptcy in November, casting uncertainty over the merger's future. This story is developing, and updates are anticipated.
Frontier Airlines offered more than $2.1 billion to acquire Spirit Airlines, three years after a failed merger attempt. The offer is lower than a previous $2.9 billion deal.
Spirit's previous agreement to merge with Frontier was abandoned in favor of a counteroffer from JetBlue, which was later blocked by the Justice Department.
Following multiple setbacks, including unpaid debts, Spirit filed for bankruptcy in November, complicating the potential acquisition by Frontier Airlines.
The situation remains fluid, with the Frontier acquisition of Spirit not final and further developments expected as the story unfolds.
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