JetBlue counters Spirit rejection: They up the ante and launch information war

Governor Ron DeSantis made an issue of Twitter’s board letting down its shareholders while initially rejecting Elon Musk’s offer. Twitter is based in California. Yet DeSantis stayed silent while Spirit, a Florida-based corporation had a board which very clearly and deliberately rejected what most analysts see as a better merger offer from jetBlue in favor of one from Frontier. Analysts question why jetBlue would want to buy Spirit, but most agree for Spirit itself, it was the superior offer.

Perhaps DeSantis is still smarting from jetBlue opting to remain a NYC-based company when Florida was courting them very hard? (Credit or blame Senator Chuck Schumer for this – unlike his Florida counterparts Rick Scott and Marco Rubio that talk a good game, Schumer uses the full force of his power to promote NY, and it was his intervention I am told that tipped the balance in terms of jetBlue not relocating.) In any event, he’s been stone-cold silent on the matter.

As a matter of ensuring continued competition, I have antitrust concerns about anyone gobbling up Spirit, a major player in the aviation industry, especially here in Florida – but if Spirit is on the market, shouldn’t the best offer be the one the board accepts?

JetBlue did not take the rejection well and now have launched a full-on website targeting shareholders to pressure the board into reversing directions. The website is fascinating and worthy of a thorough read.

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