Spirit Mergers and Acquisitions Presentation Deck
》》》 The
The Market Doesn't Believe JetBlue's Offer Either
($/share)
$40
$35
$30
$25
$20
$15
4/5/2022
4/9/2022
Spirit Share Price & Spread to JetBlue Offer Since April 5, 2022(¹)
Spread
Spirit Share Price
4/13/2022
4/17/2022
JetBlue Offer
4/21/2022
4/25/2022
Hostile Tender Offer
Announced
4/29/2022 5/16/2022
Spirit's share price has consistently traded at a significant discount to JetBlue's offer
because the market agrees that the deal cannot be consummated
Source: FactSet.
1. Market data as of May 20, 2022. Data presented from April 5, 2022 to April 29, 2022 ($33 per share offer) and from May 16, 2022 to May 20, 2022 ($30 per share offer).
37%
-Current
Discount
5/20/2022
9
JetBlue's Unrealistic Regulatory
Analysis Results in an Illusory OfferView entire presentation