Spirit Airlines refuses to acquire another border airlines with a value of $ 2.16 billion

• Spirit Airlines rejected the acquisition of about $ 2.16 billion in Group Frontier Group.
• Spirit and Frontier have been in merging talks at least 2022, even before the spirit was presented in 2024.
• Spirit Airlines has provided bankruptcy due to long periods of financial losses and a large debt.

On Tuesday, Spirit Airlines refused to offer to acquire the Frontier Group group, at a value of about $ 2.16 billion, saying that the offer of its low -cost transport company is less useful for shareholders than the continuous reorganization plan.

Boundary It was a repetition of her suggestion earlier this month in which spiritual shareholders proposed would receive $ 400 million of debt and a 19 % stake in Frontier.

However, it has dropped a condition that Spirit complete the rights of stocks of $ 350 million and use revenue for retirement from the debtor’s facility in the debtor. The waiver of the termination fees approved by the bankruptcy court of $ 35 million.

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The soul that It was presented to protect bankruptcy Last year, it is expected to complete its restructuring in the first quarter, the revised proposal said that he did not address some of the physical risks and problems that it had previously identified.

Spirit Airlines rejected the latest acquisition of the Frontier Group group, at a value of about $ 2.16 billion, on February 12, 2025. (Reuters/Mike Blake/Photo File/Reuters)

Instead, the Florida-based airline provided that the shareholders of the soul will receive $ 600 million of debt and 1.185 billion dollars of stocks-which was rejected by the borders.

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The two companies have been in the merger talks at least 2022, even before the spirit was brought to bankruptcy due to long periods of financial losses and a large debt.

However, Jetblue airlines jumped in the battle and prevailed. but This deal has been canceled After an American judge prevented him from fighting competition.

Frontier revived the acquisition efforts earlier this year, but Spirit said that the first offer was the lowest of the offer discussed by the two companies last year and asked to confirm that the deal would be closed and that the borders would not move away.