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Spirit Airlines, a bidding war target, postpones buyout vote

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Posted at 10:26 AM, Jun 09, 2022
and last updated 2022-06-09 12:26:13-04

Spirit Airlines, the target of a budget airline bidding war, is postponing a Friday vote on whether to accept one of those buyout offers after a flurry of counter proposals from JetBlue and Frontier Airlines.

The Miramar, Florida, carrier had scheduled a special shareholders meeting at the end of the week asking investors to sign off on what has been its preferred offer, from Colorado’s Frontier Airlines.

READ MORE: Advisers tell Spirit shareholders to reject Frontier bid

JetBlue has offered more money than Frontier, but Spirit has rejected those bids saying that any such tie-up would face a greater likelihood of being shot down by federal regulators.