Reported about 24 hours ago
Spirit Airlines has declined a new merger offer from Frontier Airlines, opting to proceed with its bankruptcy restructuring instead. In SEC filings, Spirit criticized Frontier's proposal as having 'many deficiencies' while Frontier claimed it would offer greater value to Spirit's creditors and shareholders than the current bankruptcy plan. Despite ongoing discussions and previous takeover attempts from Frontier and JetBlue, Spirit aims for a standalone reorganization.
Source: YAHOO