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JetBlue makes a $3.6 billion bid for Spirit Airways

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JetBlue Airways has made a $3.6 billion bid in cash for Spirit airlines, complicating Spirit’s merger plan with Frontier Airlines

In a press release by Spirit, the airline says the board is evaluating JetBlue’s proposal with financial and legal advisors.

JetBlue offered $33 per share for all of Spirit’s outstanding shares, 40 per cent more than Frontier’s deal announced in February.

Frontier offered $2.9 billion in cash and stock, but the company’s shares have since fallen, reducing the net worth of the deal.

Spirit’s shares have rocketed from 20 per cent to $26.92 since the news of the jet blue bid broke. This is the highest Spirit shares have been since mid-February.

JetBlue CEO, Robin Hayes says this move would allow for lower fares and a better experience for travelers.

“The combination of JetBlue and Spirit coupled with the incredible benefits of our Northeast Alliance with American Airlines would be a game changer in our ability to deliver superior value on a national scale to customers, crewmembers, communities, and shareholders,” he says.

Rijul Baath contributed to this report

Business

Top 5 destinations for “revenge travel” in 2023

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1. Greece


Greece is a beautiful country that is rich in history and culture.

The country is home to some of the most famous historical sites in the world, such as the Parthenon and the Acropolis.

Greece is also known for its stunning beaches, crystal-clear waters, and delicious food.

2. Italy


Italy is another popular tourist destination that is known for its rich history and culture.

The country is home to many famous historical sites, such as the Colosseum and the Vatican City.

Italy is also known for its delicious food, stunning scenery, and friendly people.

3. Spain


Spain is a diverse country that offers something for everyone.

The country is home to beautiful beaches, stunning mountain ranges, vibrant cities, and friendly people.

Spain is also known for its delicious food and wine.

4. France


France is a popular tourist destination that is known for its stunning scenery, delicious food, and rich history and culture.

The country is home to many famous historical sites, such as the Eiffel Tower and the Louvre Museum.

France is also known for its beautiful countryside and friendly people.

5. United Kingdom


The United Kingdom is a popular tourist destination that offers a unique blend of history and culture.

The country is home to many famous historical sites, such as Stonehenge and Westminster Abbey.

The United Kingdom is also known for its stunning scenery, friendly people, and delicious food

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Business

Wall Street smashed by months of volatility

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Wall Street neared bear market territory on Friday as stocks fell sharply to end the week with the Dow down more than 800 points.

The sell-off was driven by fears of a deeper recession, as data showed that manufacturing activity contracted for the fourth straight month.

The Dow is now down 20% from its peak in February, and if it falls below 19,000 it will officially enter bear market territory.

While some analysts believe that the market is overreacting to the latest data, others say that the sell-off is justified given the deteriorating economic conditions.

It remains to be seen whether the market can recover from this latest setback, but one thing is clear: Wall Street is in for a volatile ride in the weeks and months ahead.

The Dow was down more than 800 points, or 3.2%, at 24,608. The S&P 500 was down 3% at 2,754, and the Nasdaq Composite was down 2.8% at 7,433.

All three indexes are now down more than 20% from their all-time highs set in late September. The sell-off was driven by fears of a deeper recession as the yield on the 10-year Treasury fell below 1.6%.

The market has been deeply volatile in recent weeks on fears that the coronavirus outbreak will lead to a slowdown in global economic growth. Friday’s sell-off suggests that those fears are still very much present.

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Crypto whales exchange $10 million in Shiba coins

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Two large anonymous cryptocurrency wallets exchanged a total of 855,614,973 Shiba Inu meme coins, worth approximately $9.6 million.

The data, published on the WhaleStats website, reveals that these top Ethereum wallet owners have increased their SHIB stash by $134,767,965 in value since September 21.

While it is unclear what the motives behind these transactions are, it seems that the recent surge in demand for Shiba Inu meme coins has led to a significant increase in their value.

With the price of SHIB currently sitting at $0.0016 per coin, it will be interesting to see how these anonymous investors choose to cash out their profits.

So, these whales made a profit of about $649 000 in just three days due to the price increase of both assets.

As the Ethereum blockchain network’s meme currency becomes more popular among cryptocurrency investors and traders, its price is also growing rapidly.

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