JetBlue Airways to Acquire Spirit Airlines
June 27, 2022
JetBlue is acquiring Spirit Airlines for $33.50 per share in cash, valuing the deal at about $3.8 billion equity (and $7.6 billion adjusted enterprise value). The offer includes an accelerated $2.50 per-share prepayment upon Spirit shareholder approval and a $0.10 per-month “ticking fee” beginning January 2023, along with an increased $400 million reverse break-up fee.
- Buyers
- JetBlue Airways Corporation, Sundown Acquisition Corp.
- Targets
- Spirit Airlines, Inc.
- Industry
- Transportation
- Location
- Florida, United States
- Transaction Type
- Buyout
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