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Benzinga
Benzinga
Business
Phil Hall

Spirit Airlines Rejects JetBlue's Takeover Bid; JetBlue Renews Offer

JetBlue Spirit Frontier Nasdaq JetBlue Airways Corp NEA NYSE SAVE Robin Hayes DOJ

Spirit Airlines, Inc. (NYSE:SAVE) has rejected the acquisition bid from JetBlue Airways Corp (NASDAQ:JBLU) and will proceed with the previously-announced merger agreement with Frontier Group Holdings, Inc. (NASDAQ:ULCC), parent company of Frontier Airlines, Inc.

What Happened: Spirit and Frontier announced their merger plans in February in a deal valued at $6.6 billion. As a result of the merger, the combined entity will become the nation’s fifth-largest airline.

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