Spirit Airlines stockholders appear to have approved the acquisition from rival JetBlue Airways Corp. in a deal that would create the nation's fifth-largest carrier.
The final results of the shareholder vote will be filed with the U.S. Securities and Exchange Commission at a later date. While many shareholders support the JetBlue-Spirit combination, Spirit is facing shareholder backlash, stating in a recent SEC filing that it has received complaints regarding the deal, and that additional lawsuits related to the merger could be filed in the future.
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Spirit Airlines shareholders approve $3.8B merger with JetBlueWall Street widely expected shareholders to approve the sale after they forced Spirit to drop a proposed merger with Frontier Airlines in favor of JetBlue’s richer, all-cash offer.
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Spirit Airlines shareholders expected to vote on JetBlue mergerSpirit Airlines shareholders are expected to vote Tuesday on whether to approve a merger with JetBlue Airways, a deal that would create the nation’s fifth-largest carrier, but one that would face intense scrutiny from federal regulators. This is a better option than Jetblue joining American Airlines... Would it be called Blue Spirit? Stop the monopolies! Enforce antitrust laws!
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