Spirit Airlines postpones shareholder meeting on Frontier deal as merger talks with JetBlue continue

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Spirit Airlines has postponed its Friday shareholder meeting where it was expected to vote on the proposed merger agreement with Frontier Group Holdings.

The budget carrier said Wednesday that it "remains bound by the terms of the merger agreement with Frontier, and Spirit's Board has not determined that either JetBlue's unsolicited tender offer or its updated proposal received on June 6 constitutes a Superior Proposal as defined in the merger agreement with Frontier."

Sprit said it would review JetBlue's updated proposal, although its board of directors "has made no change to its recommendation that Spirit stockholders adopt the merger agreement with Frontier." A JetBlue airliner lands past a Spirit Airlines jet on taxi way at Fort Lauderdale Hollywood International Airport on Monday, April 25, 2022.

to "drive enhanced value for shareholders of both companies" and add "10,000 direct jobs and thousands of additional jobs at the companies’ business partners by 2026."that "combining JetBlue and Spirit would create a true national competitor to the dominant legacy carriers, delivering low fares and a great experience for more customers, more opportunities and good paying jobs for Crewmembers and Team Members, and more value for stockholders.

 

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