Spirit and Frontier Airlines throw out merger agreement

Spirit has continually rejected JetBlue’s offer.

Spirit and Frontier Airlines have tossed out their proposed merger agreement, leaving room for Spirit’s other suitor, JetBlue, to swoop in and score a deal, as first reported by CNBC. Shareholders were expected to reject the deal during a vote today, possibly because of JetBlue’s higher offer, according to The Washington Post.

Frontier and Spirit first announced the proposed merger in February, a move that would’ve combined the two budget airlines to create the fifth largest in the US. But not everything went as planned — JetBlue countered Frontier’s initial $2.9 billion offer with an attractive all-cash $3.6 billion bid that Spirit later rejected. In May, JetBlue launched a hostile takeover of Spirit Airlines and kept attempting to s…

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