JetBlue makes hostile takeover bid for Spirit Airlines

Photo by: JetBlue Airlines
Photo by: JetBlue Airlines

(New York, NY) -- JetBlue is launching a new effort to take over Spirit Airlines.

This time around it's a hostile takeover attempt. The Wall Street Journal reports JetBlue will offer 30 dollars cash per share on Spirit stock. That stock was priced at nearly 17 dollars after Friday's close.

Rival discount carrier Frontier Airlines has its own buyout bid for Spirit outstanding, with a vote on that offer slated for next month.