June 3 (Reuters) – The battle to snap up Spirit Airways (SAVE.N) is heating up. Frontier Group Holdings Inc (ULCC.O) has agreed to pay a break-up price of $250 million in a bid to salvage its $2.9 billion acquisition of Spirit Airways.
JetBlue Airways Corp (JBLU.O), which is locked in a takeover battle for Spirit with Frontier Group, has argued {that a} deal would assist the businesses higher compete with the “Massive 4” U.S. airways that management almost 80% of the passenger market within the nation.
Beneath are the important thing occasions within the takeover saga:
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Reporting by Nathan Gomes and Kannaki Deka in Bengaluru; Modifying by Sweta Singh and Shounak Dasgupta
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