Spirit Airlines sets June 10 date for shareholder vote on Frontier deal
1:43 pm Wednesday, May 11th, 2022
(Reuters) – Spirit Airlines Inc will hold a shareholder meeting on June 10 for a vote on its proposed merger with Frontier Group Holdings Inc, according to a regulatory filing on Wednesday.
Spirit earlier this month rejected JetBlue Airways Corp’s $33-per-share takeover offer, saying it had a low likelihood of winning approval from government regulators.
Frontier and JetBlue have been in a battle for Spirit, arguing that a merger with Spirit will help them better compete with legacy carriers, or the “big four” airlines that control nearly 80% of the U.S. passenger market.
JetBlue did not immediately respond to a Reuters request for a comment.
(Reporting by Aishwarya Nair and Nathan Gomes in Bengaluru; Editing by Shounak Dasgupta)
