The Spirit Airlines Acquisition Has Taken an Unexpectedly Hostile Turn
Back in February, Frontier Airlines announced that it was buying fellow ultra-low-cost carrier Spirit Airlines in a $2.9 billion cash-and-stock deal. But Frontier’s hopes for a straightforward acquisition were dashed a couple of months later, when JetBlue made an unsoliticed $3.6 billion all-cash offer to acquire Spirit if it backed out of the merger with…