U.S. low-cost carrier JetBlue Airways has improved its offer to purchase Spirit Airlines.
JetBlue increased its reverse break-up fee by US$150 million to $350 million, payable to Spirit shareholders in case the deal falls through due to anti-competition concerns.
The revised offer comes days after Frontier Airlines agreed to pay Spirit a break-up fee of $250 million.
JetBlue Airways originally offered $3.6 billion in cash, then launched a $3.2 billion tender offer and asked Spirit shareholders to reject the Frontier bid.
Yvad Billings Readers Bureau, Contributor
Edited by Jesus Chan
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