JetBlue sweetened its proposal to Spirit Airlines, offering to acquire all of the outstanding common stock of Spirit for $33 cash per share. The stock is currently trading at $23.61 per share.
But Spirit has already spurned JetBlue’s latest proposal, saying it still prefers its other suitor.
JetBlue’s alliance with legacy carrier American Airlines is a major sticking point. The partnership, called the, allows each airline’s frequent flyers to have access to perks on the other airline.
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