Thread: SAVE stock
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Old 09-30-2022 | 12:48 PM
  #111  
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Flyby1206
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Originally Posted by panpanpan
The stock just tanked 6% in the last 30 mins of trade on heavy volume. Maybe the deal fell apart? Seems like someone knows something.

https://seekingalpha.com/news/388765...vidend-payment


Spirit Airlines (NYSE:SAVE) dropped 6% after a NYSE notice reportedly indicated that shareholders would have to be holders of record in order to get a $2.50/share special dividend associated with the company's planned sale to JetBlue (NASDAQ:JBLU).

An NYSE notice today indicated that shareholders of record on Sept. 12 would be the only holders able to get a $2.50/share special dividend as part of the original agreement from late July, according to traders, who saw a copy of the NYSE notice that was circulating.

JetBlue (JBLU) announced in late July that it agreed to acquire Spirit Airlines (SAVE) for $33.50/share in cash, including a prepayment of $2.50 per share in cash payable upon Spirit stockholders’ approval of the transaction.

There was an expectation before the NYSE notice today that an individual didn't have to be a shareholder of record to get the $2.50/share dividend, according to traders.

JetBlue (JBLU) and Spirit (SAVE) didn't immediately respond to Seeking Alpha request for comment.

Earlier this month Spirit (SAVE) set its holder vote for its sale to JetBlue for Oct. 19.

Earlier this month Sen. Elizabeth Warren (D-MA) requested that that the U.S. Department of Justice heavily scrutinize the airline deal and ultimately block the combination.
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