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Thndr Claps » U.S. Claps » Mergers & Acquisitions 🤝 » Spirit postpones shareholder vote✈️

Spirit postpones shareholder vote✈️

by Shams Abbas
June 8, 2022

The Clap
Spirit Airlines will postpone its shareholder vote on the Frontier Airlines & JetBlue offers from June 10, 2022, to June 30, 2022.

Why?
Spirit’s board, which has been vocal about wanting to go with Frontier’s offer albeit financially inferior, doesn’t believe it has support from its shareholders.

Why this matters
The move to postpone may not only be for Spirit to persuade its shareholders to consider Frontier’s offer, but also to allow Frontier & JetBlue to come back with enhanced offers.

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