JetBlue is boosting its offer to buy Spirit Airlines, raising the stakes again in the bidding war over the nation’s biggest budget airline.
JetBlue said Monday that it offered $33.50 per share, or $2 per share more than its last bid two weeks ago. JetBlue is trying to outbid Frontier Airlines, which struck a deal to buy Spirit back in February.
Shareholders of Florida-based Spirit are scheduled to vote on the Frontier bid next week. JetBlue is trying to convince investors to kill the Frontier offer and drive Spirit into JetBlue’s arms.
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