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Latham & Watkins Advises JetBlue on Agreement With Shareholder Icahn Enterprises

February 16, 2024
Firm’s shareholder activism defense team represented the airline in agreement resulting in two new directors.

JetBlue (NASDAQ: JBLU) has announced that it has entered into an agreement with Icahn Enterprises L.P., a major shareholder of JetBlue, under which Jesse Lynn, general counsel of Icahn Enterprises, and Steven Miller, portfolio manager of Icahn Capital, will join the airline’s board of directors. Icahn Enterprises and certain of its affiliates have agreed to customary standstill, voting commitments, and other provisions.

Latham & Watkins LLP advised JetBlue in connection with the agreement with Icahn Enterprises with a shareholder activism defense team led by partners Christopher Drewry, Global Co-Chair of the Shareholder Activism & Takeover Defense Practice, Charles Ruck, Global Corporate Department Chair, and Michele Anderson, with associates Lucy Chauvin, Henna Jalal, and Kennedy Holmes. Partner and Global Chair of the Public Company & Board Representation Practice, Keith Halverstam, and counsel Irina Yevmenenko, with associates Kate Pritchard and Catriela Cohen, advised on securities matters.