JetBlue And Frontier Boost ‘Wedding Insurance’ Ahead Of Spirit Shareholder Vote

As Spirit Airlines shareholders prepare to vote, the two suitor carriers have boosted their breakup fees, the M&A equivalent of wedding insurance.

There’s less than a week to go before Spirit Airlines stockholders vote on whether to accept a takeover bid from fellow low-cost carrier Frontier Airlines or to reject it and open the door to a more lucrative, hostile bid from JetBlue Airways.

Frontier has claimed the merger of two “complementary businesses” would “create America’s most competitive ultra-low fare airline for the benefit of consumers.” JetBlue, meanwhile, has argued that acquiring Spirit would allow it to compete with the so-called “Big Four” U.S. carriers – American,

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