Spirit Rejects JetBlue Takeover Bid to Side With Frontier
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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