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Spirit’s Latest JetBlue Rebuff Sets Up Crucial Shareholder Vote

  • Deep-discount carrier recommends rival offer from Frontier
  • JetBlue accuses Spirit’s board of acting in bad faith
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Frontier Air CEO Says He's Confident About Spirit Vote
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Spirit Airlines Inc. rebuffed a hostile $3.3 billion takeover offer from JetBlue Airways Corp., setting the stage for a potentially contentious vote by shareholders on whether to back the bid or go with a competing proposal from Frontier Group Holdings Inc.

Spirit said its board unanimously determined the JetBlue offer is not in the best interests of the carrier. The potential transaction faces serious regulatory hurdles and is unlikely to be successfully completed, Spirit said Thursday, reiterating a call for shareholders to vote in favor of Frontier’s bid.