Spirit Airlines says it has received a merger proposal from JetBlue

Band David Shepardson

WASHINGTON, April 5 (Reuters)Spirit Airlines SAVE.N said on Tuesday that it had received an unsolicited offer from JetBlue Airlines companies JBLU.Ofor about $3.6 billionpotentially growl merger projects between border Group holdings CHLC.O and Spirit.

Shares of Spirit rose 22%, their highest level since mid-February. Airline stocks have suffered from the dramatic drop in air travel during the COVID-19 shutdowns.

Sprit’s 52-week high of $39.19 is $6 higher than JetBlue’s reported offer of $33 per share.

Earlier, the New York Times reportedthe JetBlue offer at $33 per sharequoting people familiar with the subject.

Spirit declined to comment beyond a written statement. Frontier and JetBlue, the sixth-largest US airline, did not immediately comment. The US Department of Justice, which would review any proposed merger, declined to comment.

(Reporting by David Shepardson in Washington and Kannaki Deka in Bangalore; Editing by Maju Samuel, Bernard Orr)

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