The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Spirit Airlines delayed for a third time a crucial shareholder vote so it can continue discussions of its merger options with Frontier Group Holdings and rival suitor JetBlue Airways.
The special meeting was delayed until July 15, Spirit said in a statement. While Spirit will continue to solicit shareholder proxies, there won’t be a vote or other business conducted at a meeting. The company said “it intends to reopen and immediately adjourn†the meeting.
The additional delay could signal that Spirit doesn’t have sufficient shareholder support to move ahead with a vote on the agreement it reached in February with Frontier. Spirit has rejected five takeover proposals from JetBlue, which is offering $3.7 billion in cash.