Spirit Airlines shares fall 7% as Frontier upgrades bid

Monday, 27. June 2022 12:06

Spirit Airlines Inc's shares fell over 7% on Monday as Frontier Airlines upgraded its bid to buy the company.

According to earlier reports, Frontier proposes extra cash and a higher breakup fee in case regulators block the intended merger. Spirit stated last Friday that the board had decided Frontier's new bid is better than the one from JetBlue Airways.

Spirit shares went down by 7.14% at 5:44 am ET to sell for $22.77.

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