Spirit Airlines’ shareholders nixed a proposed merger with Denver-based Frontier Airlines Wednesday, perhaps clearing a path for JetBlue Airways to take over the Miramar-based low-cost carrier, the Sun-Sentinel reports.
JetBlue, based in New York, became an interloper in talks between Spirit and Frontier, actively lobbying shareholders to reject the deal.
Frontier was offering $2.6 billion in cash and stock to establish Frontier’s majority control. JetBlue’s offer for Spirit is $3.7 billion. That would entail a complete takeover of Spirit.
JetBlue’s offer is good through the close of business Friday. If accepted, the company would become the fifth-largest U.S. airline.
– Anne Geggis, Florida Politics