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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.
Teneo represents American Ocean Minerals Corp as its merges with NASDAQ-listed Odyssey Marine Exploration to create a $1B deep-sea critical minerals research and mining platform that is under US-control.
Kekst CNC represents Cleveland-based Everstream as the business-only fiber network receives bankruptcy court approval for the sale of almost all of its operations to Bluebird Fiber for $385M.
FTI Consulting handles media for McCormick as the 137-year-old flavors company combines with Unilever Foods in a deal valued at $45B.
Edelman Smithfield handles Sysco as the world's largest food-away-from-home distributor acquires Foxcroft Strategy Group client Jetro Restaurant Depot, which serves delis and mom & pop shops, in a deal valued at $29B.
FGS Global represents Brown-Forman Corp. as it confirms merger discussions with French liquor giant Pernod Ricard.
