SPIRIT

JetBlue Issues Letter to Spirit Shareholders

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Wednesday, June 29, 2022
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JetBlue (NASDAQ: JBLU) today issued an open letter to shareholders of Spirit (NYSE: SAVE).

Key Points: 
  • JetBlue (NASDAQ: JBLU) today issued an open letter to shareholders of Spirit (NYSE: SAVE).
  • Tomorrow, Spirit shareholders have YOUR chance to help assure you receive the most value for your Spirit shares by voting AGAINST the Frontier transaction.
  • The entrenched Spirit Board needs to know that you, their shareholders, want our better offer.
  • Multiple Spirit directors have significant ties to Frontiers controlling shareholder, Bill Franke, resulting in a conflicted Spirit Board more focused on securing an inferior transaction with Frontier than maximizing value for its own shareholders.

JetBlue Welcomes Support for Superior Offer to Acquire Spirit

Retrieved on: 
Tuesday, June 28, 2022
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JetBlue (NASDAQ: JBLU) today welcomed the recent public support in favor of its clearly superior offer to acquire Spirit (NYSE: SAVE).

Key Points: 
  • JetBlue (NASDAQ: JBLU) today welcomed the recent public support in favor of its clearly superior offer to acquire Spirit (NYSE: SAVE).
  • At the same time, the addition of the ticking fee in the JetBlue offer a provision without a counterpart in the Frontier offer provides a further level of regulatory risk mitigation.
  • Our decisively superior offer is being recognized by Spirit shareholders and proxy advisors as providing more for Spirit shareholders than the ill-fated Frontier merger, which the conflicted Spirit Board has entered into, said Robin Hayes, chief executive officer, JetBlue.
  • Shareholders can send a clear message to the Spirit Board by voting No at the upcoming Spirit special meeting.

JetBlue Modifies Superior Offer After Consultation with Shareholders

Retrieved on: 
Monday, June 27, 2022
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JetBlue continues to encourage Spirit shareholders to vote AGAINST Frontiers inferior offer.

Key Points: 
  • JetBlue continues to encourage Spirit shareholders to vote AGAINST Frontiers inferior offer.
  • After engagement and consultation with shareholders and positive investor reaction to the value and certainty of JetBlues offer, JetBlue today amended its already superior proposal:
    Increased accelerated prepayment to $2.50 per share, structured as a cash dividend to Spirit shareholders promptly following the Spirit shareholder vote approving the combination between Spirit and JetBlue (subject to CARES Act limitations).
  • After the Spirit Boards failure to recognize our decisively superior offer, weve discussed our offer directly with Spirit shareholders and are now modifying our proposal in response to shareholders expressed interest, to include a monthly payment for shareholders, with the certainty of a significant cash premium at closing, said Robin Hayes, chief executive officer, JetBlue.
  • It is clear the market agrees the JetBlue offer is good for Spirit shareholders.

Frontier Airlines Issues Open Letter to Spirit Airlines Stockholders Highlighting Greater Value and Clearer Pathway to Close Than JetBlue Proposal

Retrieved on: 
Monday, June 27, 2022
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DENVER, June 27, 2022 (GLOBE NEWSWIRE) -- Frontier Group Holdings, Inc. (“Frontier”) (NASDAQ: ULCC), parent company of Frontier Airlines, Inc., today issued the following letter to Spirit Airlines’ (“Spirit”) (NYSE: SAVE) stockholders regarding Frontier’s proposed merger with Spirit.

Key Points: 
  • Frontier Airlines (Nasdaq: ULCC) is committed to Low Fares Done Right.
  • The Form S-4 was declared effective on May 11, 2022 and the prospectus/proxy statement was first mailed to Spirit stockholders on May 11, 2022.
  • Frontier and Spirit also plan to file other relevant documents with the SEC regarding the proposed transaction.
  • All forward-looking statements in this communication are based upon information available to Frontier and Spirit on the date of this communication.

JetBlue Comments on Frontier-Spirit Announcement

Retrieved on: 
Saturday, June 25, 2022
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JetBlue offers $33.50 per Spirit share in cash, a very significant 38%1 premium to the implied market value of the amended Frontier transaction.

Key Points: 
  • JetBlue offers $33.50 per Spirit share in cash, a very significant 38%1 premium to the implied market value of the amended Frontier transaction.
  • JetBlue and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the holders of Spirit common stock.
  • JetBlue is New York's Hometown Airline, and a leading carrier in Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando, and San Juan.
  • JetBlue carries customers to more than 110 cities throughout the United States, Latin America, Caribbean, Canada, and United Kingdom.

Spirit Airlines Board of Directors to Review Revised Proposal from JetBlue

Retrieved on: 
Monday, June 20, 2022
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Spirit Airlines, Inc. (Spirit or the Company) (NYSE: SAVE), today confirmed receipt of a revised proposal from JetBlue Airways ("JetBlue") (Nasdaq: JBLU) to acquire all of the outstanding shares of Spirit's common stock.

Key Points: 
  • Spirit Airlines, Inc. (Spirit or the Company) (NYSE: SAVE), today confirmed receipt of a revised proposal from JetBlue Airways ("JetBlue") (Nasdaq: JBLU) to acquire all of the outstanding shares of Spirit's common stock.
  • Consistent with its fiduciary duties, the Spirit Board of Directors will work with its financial and legal advisors to evaluate JetBlue's revised proposal and pursue the course of action it determines to be in the best interests of Spirit and its stockholders.
  • As previously disclosed, Spirit is continuing to engage in discussions with JetBlue and is continuing to work with Frontier under the terms of the existing merger agreement between Spirit and Frontier.
  • As part of this process, Frontier and JetBlue have been given access to the same extensive due diligence information, on the same terms.

Myovant Sciences and Pfizer Announce Publication in The Lancet of Phase 3 SPIRIT 1 and SPIRIT 2 Studies of Once-Daily Relugolix Combination Therapy in Women With Endometriosis-Associated Pain

Retrieved on: 
Friday, June 17, 2022
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In both studies, relugolix combination therapy was associated with a generally well-tolerated safety profile, including bone mineral density loss of

Key Points: 
  • In both studies, relugolix combination therapy was associated with a generally well-tolerated safety profile, including bone mineral density loss of
  • Seven key secondary endpoints in SPIRIT 1 and six key secondary endpoints in SPIRIT 2 comparing relugolix combination therapy with placebo at Week 24 also achieved statistical significance.
  • The most frequently reported adverse events in both relugolix combination treatment and placebo groups were headache, nasopharyngitis, and hot flushes.
  • For endometriosis-associated pain, current treatment options include prescription and over-the-counter pain medications, oral contraceptives, GnRH agonists, and antagonists.

JetBlue Comments on Spirit’s Postponement of Special Meeting

Retrieved on: 
Wednesday, June 8, 2022
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JetBlue is New York's Hometown Airline, and a leading carrier in Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando, and San Juan.

Key Points: 
  • JetBlue is New York's Hometown Airline, and a leading carrier in Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando, and San Juan.
  • JetBlue carries customers across the United States, Caribbean and Latin America and London.
  • These statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995.
  • JetBlue and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the holders of Spirit common stock.

Spirit Airlines Postpones Special Meeting of Stockholders Until June 30, 2022

Retrieved on: 
Wednesday, June 8, 2022
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Spirit Airlines, Inc. (Spirit or the Company) (NYSE: SAVE) today announced that it postponed its Special Meeting of Stockholders (the Special Meeting) relating to the proposed merger agreement with Frontier Group Holdings, Inc. ("Frontier") (NASDAQ: ULCC), parent company of Frontier Airlines, Inc., until June 30, 2022 at 9 AM ET.

Key Points: 
  • Spirit Airlines, Inc. (Spirit or the Company) (NYSE: SAVE) today announced that it postponed its Special Meeting of Stockholders (the Special Meeting) relating to the proposed merger agreement with Frontier Group Holdings, Inc. ("Frontier") (NASDAQ: ULCC), parent company of Frontier Airlines, Inc., until June 30, 2022 at 9 AM ET.
  • The Special Meeting was postponed to allow the Spirit Board of Directors to continue discussions with Spirit stockholders, Frontier and JetBlue Airways Corporation (JetBlue) (NASDAQ: JBLU).
  • Spirit Airlines (NYSE: SAVE) is committed to delivering the best value in the sky.
  • The Form S-4 was declared effective on May 11, 2022 and the prospectus/proxy statement was first mailed to Spirit stockholders on May 11, 2022.

Antitrust Expert with Direct Experience Representing the Department of Justice Shares Views on JetBlue-Spirit Combination

Retrieved on: 
Tuesday, June 7, 2022
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JetBlue (NASDAQ: JBLU) today shared remarks by antitrust expert Glenn Pomerantz discussing how the U.S. Department of Justice (the DOJ) and courts will likely view the proposed combination of JetBlue-Spirit.

Key Points: 
  • JetBlue (NASDAQ: JBLU) today shared remarks by antitrust expert Glenn Pomerantz discussing how the U.S. Department of Justice (the DOJ) and courts will likely view the proposed combination of JetBlue-Spirit.
  • He was engaged by JetBlue to work alongside its antitrust counsel to examine how the combination would be reviewed by regulators.
  • Mr. Pomerantz concludes, If youre worried about the passengers who really want an ultra-low-cost alternative, those alternatives will be there.
  • There are plenty of other ultra-low-cost carriers, who will enter and take over a route of Spirits if that route is profitable.