Originally Posted by
JayRalstonSmith
JetBlue tried, the DOJ blocked it, they went to court, lost, appealed, and then decided that NK at its current value wasn't worth the significant multiple they were paying for it. It wasn't cold feet, it was a smart business decision.
Smart decision, cold feet, call it what you want... I firmly believe JetBlue management wanted out of this deal before the judges ruling in all honesty..... They started a bidding war with Frontier like they did with Alaska back in the day to jack up the price for Spirit hoping Frontier would wreck its balance sheet to overpay. Only this time, they got caught holding the bag..
My point was, folks are wrongly trying to place blame at DOJ and Biden in reality that blame be placed with Spirit management/shareholders and JetBlue management....