JetBlue sweetens Spirit takeover offer with 'ticking fee'
World09:1328 June, 2022

JetBlue Airways Corp on Monday sweetened its offer for Spirit Airlines Inc with a 'ticking fee'

JetBlue sweetens Spirit takeover offer with 'ticking fee'
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JetBlue Airways Corp on Monday sweetened its offer for Spirit Airlines Inc with a 'ticking fee' and higher reverse termination fee, hoping to woo Spirit's shareholders from taking up Frontier Group's offer, Qazet.az reports.

JetBlue said the ticking fee, which would give Spirit shareholders a monthly prepayment of 10 cents per share between January 2023 and the closing of the deal, bumps up the total price for Spirit to $34.15 per share.

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