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Benzinga
Benzinga
Business
Adam Eckert

Why JetBlue Airways Stock Is Falling Today

JetBlue Spirit Nasdaq JetBlue Airways Corp NYSE SAVE

JetBlue Airways Corp (NASDAQ:JBLU) shares are trading lower Wednesday morning after the company confirmed it made a $3.6 billion offer to acquire Spirit Airlines Inc (NYSE:SAVE).

JetBlue submitted a proposal to Spirit's board of directors to acquire Spirit for $33 per share in cash. The company said it firmly believes its proposal is a "superior proposal" to Spirit’s merger agreement with Frontier Group Holdings Inc (NASDAQ:ULCC).

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