(Finance) – Spirit Airlinesa US low-cost airline, said the proposal received from JetBlue Airways “could reasonably lead to a superior proposal” versus Spirit’s merger agreement with Frontier Group Holdings, parent company of Frontier Airlines. Spirit’s board, after consulting the company’s external financial and legal advisors, has announced that it intends start discussions with JetBlue.
Spirit claims to stay “bound by the terms of the agreement of the merger with Frontier and Spirit’s board did not determine that JetBlue’s proposal actually constitutes a superior proposal as defined in the merger agreement with Frontier. “Additionally, Spirit points out that there can be no guarantee that discussions with JetBlue will result in a transaction.