Spirit Airlines to begin discussions with JetBlue Airways

Spirit Airlines Board of Directors has stated that the offer from JetBlue to acquire the airline in an all-cash transaction “could reasonably be likely to lead to a “Superior Proposal” as defined in Spirit’s merger agreement with Frontier Group Holdings, parent company of Frontier Airlines”. Spirit intends to engage in discussions with JetBlue with respect to the proposal, “in accordance with the terms of the company’s merger agreement with Frontier”. Spirit is bound by the terms in the Frontier agreement but the language suggests that it has not yet determined if the JetBlue offer constitutes a superior proposal, this is