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Spirit Airlines again postpones merger vote
Spirit Airlines has again postponed its special shareholders meeting to vote on the proposed merger deal with Frontier Group Holdings.
It is the third time Spirit has delayed the vote as Frontier Group and JetBlue continue to sweeten their bids.
The July 8 meeting was pushed back another week so the Spirit board can continue discussions with both airlines.
The vote is now scheduled on July 15.
JetBlue is offering Spirit shareholders $33.50 in cash, worth $3.6 billion, however there are doubts JetBlue says it can secure antitrust approval.
Spirit has recommended shareholders vote in favor of a merger with frontier, although the JetBlue bid is more valuable.
JetBlue said: “We are hopeful they now recognize that Spirit shareholders have indicated their clear, overwhelming preference for an agreement with JetBlue.”
Ray Monty
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