JetBlue has raised its buying price to acquire Spirit Airlines, making several amendments to its tender offer to Spirit investors to acquire the smaller airline just days before investors vote on whether to approve a competing buyout offer from Frontier Airlines.
On Monday, JetBlue sweetened the deal in its pitch to shareholders by raising its all-cash premium offer from $30 per share to $31.50, and raised the stakes of a reverse breakup fee to $350 million in the event that antitrust regulators reject the merger.
