Spirit is again delaying a shareholder vote on the merger in order to continue talks with Frontier and JetBlue
A Spirit Airlines aircraft on the tarmac at Fort Lauderdale-Hollywood International Airport on February 07, 2022 in Fort Lauderdale, Florida.
Joe Raedle | Getty Images
Spirit Airlines on Wednesday postponed the shareholder vote on its proposed merger with Frontier Airlines until July 8, hours ahead of a meeting scheduled for Thursday so the company can discuss other options with Frontier and rival bidder JetBlue Airways.
It’s the second time Spirit has delayed a vote on its proposed merger with Frontier, prolonging the most controversial US airline bidding war in years.
Spirit originally scheduled Thursday’s vote for June 10, but postponed it for the same reasons.
Both Frontier and JetBlue upped their bids in the week leading up to the scheduled vote.
Frontier and Spirit first announced their intention to merge in February. In April, JetBlue made a surprise cash offer for Spirit, but Spirit’s board of directors has repeatedly rejected JetBlue’s offers, arguing that a JetBlue acquisition would not pass the regulators.
JetBlue has backfired on Spirit, saying it failed to negotiate in good faith, sparking a war of words between the airlines as they battled for shareholder support ahead of the vote.
Frontier and JetBlue did not immediately comment on the postponed vote.
https://www.cnbc.com/2022/06/29/spirit-airlines-delays-shareholder-vote-on-frontier-deal-to-july-8.html Spirit is again delaying a shareholder vote on the merger in order to continue talks with Frontier and JetBlue
