M&A

April 5, 2022

$SAVE Soars on $3.6 Billion JetBlue Offer

In early February, Frontier Airlines made a bid to combine its business with Spirit Airlines and form one gigantic discount airline. Today, JetBlue offered 40% above Frontier’s bid in an effort to acquire Spirit. ✈️ 💰

Spirit stock ($SAVE) exploded above 20% on news of JetBlue’s $3.6 billion cash and stock offer. JetBlue’s motive for the deal is likely Spirit’s fleet, as the budget airline flies all Airbus A320 planes — Airbus A320s account for most of JetBlue’s fleet as well.

The Spirit-Frontier merger was a $2.9 billion deal that would have served as an alternative to the other 80% of airlines (Delta, United, Southwest, etc.), but an offer worth 40% more could entice Spirit out of the Frontier merger. Although, we have to say… the idea of a successful Spirit-Frontier merger is way more entertaining (both airlines are notorious for woeful customer service.) 😂

$SAVE gained 22.47%, $JBLU tumbled 7.08%, and $ULCC is up 4.87% after hours.

Learn More About...

You Might Also Enjoy

M&A

January 8, 2024

Biotech Builds Buyout Momentum

It was another busy Monday of M&A activity in the biotech and healthcare space, with more expected during this week’s annual JPMorgan Healthcare Conference. Let’s quickly recap today’s deals. 📝

Johnson & Johnson will acquire cancer drug developer Ambrx Biopharma for $2 billion in cash. Ambrx is aiming to target multiple cancers with drugs called antibody-drug conjugates, or ADCs, which are described by researchers as “guided missiles” to directly target and kill cancer cells while limiting damage to healthy cells. 🎯

Read It

Earnings

January 12, 2024

Airlines Dive On Delta’s Outlook

With travel demand remaining robust, airline investors are hoping for some pretty incredible results. However, Delta’s quarterly numbers and outlook today caused many to rethink their expectations for what’s ahead. 🤔

The company’s adjusted earnings per share of $1.28 on $13.66 billion in revenues topped the expected $1.17 and $13.52 billion. Revenues were up 6% YoY, driven by strong international travel demand that’s helped offset an oversupply of domestic flights. 🔺

Read It

Earnings

January 9, 2024

Samsung Slashes Profit Expectations

Shares of Samsung Electronics fell today after the consumer electronics giant warned about its fourth-quarter results. It now expects a 35% YoY decline in operating profit during the fourth quarter of 2023, coming in at 2.8 trillion South Korean won vs. 4.31 trillion a year ago. 🔻

Given it is the country’s largest company and the world’s largest maker of dynamic random-access memory chips, analysts closely watch it as a bellwether for the consumer electronics industry. 👀

Read It

More in   M&A

View All

M&A

October 6, 2023

Exxon Mobil Nears Megadeal

Exxon Mobil is closing in on a blockbuster takeover of Pioneer Natural Resources, with the $60 billion acquisition potentially reshaping the U.S. oil industry. 🛢️

After posting a record profit in 2022, the oil giant has been looking for ways to put that cash to work. It’s also been eyeing the oil-rich Permian Basin of West Texas and New Mexico, a region it says is critical to its growth plans.

Read It

M&A

May 22, 2023

An M&A-Filled Monday

It was a busy day for dealmaking activity, so let’s quickly review.

Regional banks were buoyed after PacWest Bancorp said it would sell a portfolio of real estate construction loans to shore up its balance sheet. The company will sell 74 loans with an aggregate principal outstanding of $2.6 billion to a unit of Kennedy-Wilson Holdings. It’s also selling them six additional loans with an aggregate balance of around $363 million. While the deal comes at a discount, investors are celebrating PacWest’s steps toward improving its liquidity position. 💵

Read It

M&A

December 11, 2023

An M&A Mashup

It was another busy Monday of M&A and fundraising news, so let’s quickly recap. 👇

First up is Macy’s, which saw shares soar 20% on reports that the 165-year-old retailer is considering a buyout offer from Arkhouse Management and Brigade Capital Management. It’s unclear how the company’s board feels about the offer, but clearly, these firms have value in Macy’s real estate. Analysts speculate that the investor group may sell off real estate and spin off its e-commerce business to deliver short-term gains. However, that would come at the expense of the core retail business people know and love it for. 🏬

Read It