Spirit Airlines sets June 10 date for shareholder vote on Frontier deal
2022.05.11 21:06
FILE PHOTO: A Spirit Airlines Airbuys A320-200 airplane sits at a gate at the O’Hare Airport in Chicago, Illinois October 2, 2014.REUTERS/Jim Young
(Reuters) – Spirit Airlines (NYSE:SAVE) 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 (NASDAQ:JBLU) 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.
