Spirit Airlines says shareholders unlikely to vote against Frontier deal

Spirit Airlines Chief Executive Ted Christie said on Monday it is unlikely shareholders would vote against its proposed merger with Frontier Group Holdings Inc.

The Florida-based ultra-low-cost carrier is facing a hostile takeover bid by JetBlue Airlines. The company has urged its shareholders to reject JetBlue’s offer and back its deal with Frontier.

Spirit will hold a shareholder meeting on June 10 to vote on the transaction with Frontier.

“The vote that we will be soliciting from our shareholders on the 10th is a vote for the Frontier merger,” Christie said on an analyst call.

He, however, said Spirit intended to remain a stand-alone entity if shareholders rejected the deal.

Source: Reuters

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