Spirit Airlines once again rejected a sweetened takeover offer from JetBlue Airlines, citing antitrust concerns and asked its shareholders to vote for a merger with rival Frontier Group at a meeting tomorrow.
In the latest offer, JetBlue raised the value of the offer to $34.15 per share, representing a 51% premium to Spirit’s stock. It also raised the breakup fee by $50 million to $400 million if the deal fails to get regulatory approval.
According to Spirit CEO Ted…