ISS recommends Spirit shareholders to vote against Frontier’s offer
Spirit on Wednesday delayed the shareholder vote on its merger with Frontier Group for the fourth time amid a struggle to gather enough support for a deal that could create the fifth-largest US airline
By Arghyadeep Dutta
Published - Jul 15, 2022, 03:27 PM ET
Last Updated - Mar 12, 2024, 08:57 AM EDT
Proxy advisory firm Institutional Shareholder Services (ISS) on Friday recommended Spirit Airlines Inc (NYSE: SAVE) shareholders to vote against the proposed deal with Frontier Group Holdings Inc (NASDAQ: ULCC).
Spirit on Wednesday delayed the shareholder vote on its merger with Frontier Group for the fourth time amid a struggle to gather enough support for a deal that could create the fifth-largest US airline.
In May, ISS urged Spirit shareholders to vote for JetBlue Airways Corp (NASDAQ: JBLU).
ISS reiterated its stance and said the sweetened offer from JetBlue was “favorable” for Spirit shareholders.
