JetBlue sweetens offer for Spirit to $33.50 per share

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Spirit said last week it was in talks with JetBlue over its offer and expected to decide on the proposal by June 30. JetBlue said its proposal represents a 68% premium to the implied value of the Frontier stock and cash transaction.

The new proposal includes what JetBlue termed a “stronger divestiture commitment” to complete the Spirit deal but does not include abandoning JetBlue’s Northeast Alliance with American Airlines (NASDAQ:AAL).