JetBlue : Proxy Advisory Firm ISS Recommends Spirit Shareholders Vote Against Frontier Transaction

(RTTNews) - JetBlue Airways Corp. (JBLU) said that Institutional Shareholder Services or "ISS", the leading independent proxy advisory firm, has issued a report recommending that Spirit Airlines Inc. (SAVE) shareholders vote against Frontier Airlines Inc. (FRNT) transaction at Spirit's upcoming special meeting.

On 19th May 2022, Spirit Airlines said its board determined that the unsolicited tender offer from JetBlue Airways to acquire all outstanding shares of Spirit's common stock for $30 per share in cash is not in the best interests of Spirit and its stockholders.

The Spirit Board had recommended that stockholders not tender any of their shares into the JetBlue offer and continued to recommend that stockholders vote for the merger agreement with Frontier.