The Clap
Spirit Airlines has postponed its shareholder meeting that’s set to vote on the merger with Frontier Airlines for the third time.
Why?
JetBlue’s clearly superior offer seems to be giving Spirit’s board a hard time getting its shareholders to go with Frontier.
But why does Spirit want an Inferior Offer?
They argue that a deal with JetBlue is unlikely to pass through regulatory approval, although the Frontier deal wouldn’t be set in stone with regulatory bodies either if it goes through.
The Deets
The meeting was postponed to another week, now set for July 15, 2022.
Why this Matters
Both Frontier & JetBlue kept enhancing their offers right to the wire. But then, the meeting got postponed to July 8, 2022. This coming week we’ll see whether JetBlue & Frontier are comfortable with their last offers or if they’ll submit better ones… again.
