Spirit Airlines’s vote on a merger with Frontier Airlines will not be taking flight this Friday thanks to another delay announced Wednesday.
The fourth delay of the vote was due to a lack of support for the merger from investors, and it is now scheduled to be held on July 27, according to a press release from the airlines. Prior to the Friday date, the vote had been set for June 30.
SEE IT: SIMONE BILES MISTAKEN FOR CHILD BY FLIGHT ATTENDANT
The new scheduled date fulfills a Monday request from Frontier for Spirit to delay its vote to July 27. Frontier increased the cash component of its deal to purchase Spirit by $2 per share to $4.13 per share in June, and it also increased its reverse termination fee to Spirit by $100 million to $350 million, describing it as its “last, best and final offer.”
Frontier has been competing with rival airline JetBlue to acquire Spirit since April. JetBlue put out a $3.6 billion offer in April and later adjusted the offer to $3.7 billion in June.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
Spirit’s board of directors initially rejected the April offer in May, claiming it was not enough to dissuade it from sticking with its initial plans to merge with Frontier.
