JetBlue Airways Corp. does not back down in its fight to buy Spirit Airlines Inc., once again increasing its bid in an effort to outperform rival Frontier Airlines.
JetBlue on Monday proposed a $ 400 million breakout fee, which it would pay to Spirit if regulators block the merger, more than the $ 350 million it had previously promised. JetBlue also said it would pay in advance $ 2.50 per share once investors approve the deal, more than the previous $ 1.50.