Why Spirit Airlines Stock Is Soaring Today

Shares of the discount air carrier Spirit Airlines (NYSE: SAVE) were rising today after JetBlue Airways increased its offer to buy Spirit yesterday. 

The airline stock was up by 8.1% as of 3:16 p.m. ET. 

JetBlue had already proposed an offer to buy Spirit, but the company improved on its proposal yesterday by offering $33.50 per share in cash -- $2.00 per share higher than an offer from earlier in the month.  

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Source Fool.com