JetBlue (ticker: JBLU) has begun a tender offer for Spirit (SAVE) shares. Spirit rejected JetBlue’s $3.6 billion takeover proposal earlier this month, opting to stick with a lower-priced bid from Frontier Group ULCC +4.56% (ULCC).
Is this the new norm now I guess? I suppose with how low prices are on some companies, it makes sense to just buy up all their shares. Companies are starting to take a page out of Elon’s book it looks like.
Leave a Reply