Spirit Airlines, Inc. (“Spirit” or the “Company”) today announced that its Board of Directors has determined, after consultation with the Company’s outside financial and legal advisors, that the unsolicited proposal received from JetBlue Airways (“JetBlue”) (Nasdaq: JBLU) to acquire Spirit in an all-cash transaction for $33.00 per share could reasonably be likely to lead to a “Superior Proposal” as defined in Spirit’s merger agreement with Frontier Group Holdings, Inc. (“Frontier”) (NASDAQ: ULCC), parent company of Frontier Airlines, Inc.
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