(Reuters) – JetBlue Airways Corp on Monday sweetened its offer for Spirit Airlines Inc with a ‘ticking fee’ and higher reverse termination fee, hoping to woo Spirit’s shareholders from taking up Frontier Group’s offer.
JetBlue said the ticking fee, which would give Spirit shareholders a monthly prepayment of 10 cents per share between January 2023 and the closing of the deal, bumps up the total price for Spirit to $34.15 per share.
JetBlue last week had sweetened its takeover offer for Spirit to $33.50 per share.
(Reporting by Shariq Khan; Editing by Shailesh Kuber)
