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Kekst CNC advised JetBlue Airways as it agreed to buy Spirit Airlines, ending a bidding war with Frontier Airlines for the discount carrier.
JetBlue will pay $33.50 per share for Spirit, a price that values the deal in the $3.8B range.
Spirit and Frontier terminated their merger pact on July 27.
JetBlue says the deal will create the nation’s fifth largest airline with the customer-centric, low-fare alternative to challenge the Big Four (United, American, Delta and Southwest) carriers.
CEO Robin Hayes claims the combination will result in lower fares for passengers, an expanded service network, more opportunities for employees, and an enhanced platform for profitable growth.
He expects the deal will receive required regulatory approval by no later than the first half of 2024.
FGS Global handled Spirit.
C Street Advisory Group is handling the Chapter 11 filing of LIV Golf following the move by Saudi Arabia’s Public Investment Fund to pull the financial plug on the League. (Updated)
Teneo handles Bamboo Insurance Services as the Midvale, UT-based marketer of homeowner policies files a Form S-1 statement with the SEC for an initial public offering.
FTI Consulting handles West Marine as the nation’s leading retailer of marine parts and accessories for boating, fishing and sailing enthusiasts emerges from Chapter 11 bankruptcy.
Throughline Global Advisors represents Principal Mineral as it acquires Conductive Group, manufacturer of advanced materials for the aerospace, telecommunications and electronics sectors.
Trump Media & Technology Group posted a $238M Q2 loss on $1.7M in revenues. That performance compares to a $20M loss and $883K revenues in the 2025 comparable quarter.
