JetBlue’s unsolicited $3.6 billion takeover offer for Spirit Airlines outbids an existing buyout offer from Frontier by 33%.
The S&P 500 traded lower after the Federal Reserve outlined its plan to aggressively reduce the size of its balance sheet. In its latest meeting minutes released Wednesday, the Federal Open Market Committee said it plans to allow a maximum of $60 billion in U.S. Treasury bonds and $35 billion in mortgage-backed securities to roll off its balance sheet on a monthly basis starting in May. The minutes also noted that «many participants» believe at least one interest rate hike of 0.5% may be appropriate in the near future if inflation remains elevated. Shares of social media platform Twitter gained more than 22% last week after influential Tesla CEO Elon Musk disclosed a 9.2% ownership stake in Twitter and joined Twitter’s board of directors.
