Reuters reveals Frontier offers $250 mln break-up fee in Spirit Airlines deal - Reuters News Agency
Business & Finance

Reuters reveals Frontier offers $250 mln break-up fee in Spirit Airlines deal

Reuters exclusively reported that Frontier Group Holdings Inc said on Thursday it has agreed to pay a break-up fee of $250 million in a bid to salvage its $2.9 billion acquisition of Spirit Airlines Inc that would create the fifth-largest U.S. airline. The sweetening of the terms, first reported by Reuters, comes after proxy advisory firm Institutional Shareholder Services Inc urged Spirit shareholders to vote against the deal with Frontier because Spirit failed to negotiate a break-up fee should U.S. antitrust regulators shoot down their deal.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Countries: US
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
Spirit Airlines
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