Spirit Rejects JetBlue Takeover Bid to Side With Frontier
For more crisp and insightful business and economic news, subscribe to The Daily Upside newsletter. It's completely free and we guarantee you'll learn something new every day.
Going once, going twice, sold! To... the lower bidder? It's not often that an auction ends with the highest bidder going home empty-handed, but that's pretty much what just happened in the airline industry.
On Monday, ultra-budget Spirit Airlines bid bon voyage to over half a billion dollars when it rejected JetBlue's takeover bid in favor of Frontier Airlines' more frugal offer. Like passengers on its own cramped, perk-free flights, Spirit asked itself: Do I deserve better than this? and answered with a resounding no.
Source Fool.com
