Spirit Board rebuffs JetBlue (again)

Spirit Airlines Board of Directors has announced today that it has unanimously determined that the unsolicited tender offer from JetBlue Airways to acquire all outstanding shares of Spirit’s common stock for $30 per share in cash is NOT in the best interests of Spirit and its stockholders. The board has reiterated its stance that such a deal would not be approved by regulators since “faces substantial regulatory hurdles, especially while the Northeast Alliance (“NEA”) with American Airlines remains in effect”. As a result, Spirit states that since the offer is not reasonably capable of being consummated, it is not superior