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Low-cost carrier Frontier Group Holdings Inc has declined to further raise its bid for takeover target Spirit Airlines Inc, potentially drawing curtains on its months-long bidding war with JetBlue Airways Corp.
Spirit signed a cash-and-stock deal with rival Frontier in February to form a new no-frills airline and compete against big national carriers. In April, JetBlue jumped into the fray with an all-cash offer.
Since then, JetBlue and Frontier have been fighting to seal…