(Reuters) -Spirit Airlines Inc said on Wednesday it has delayed to June 30 a shareholder meeting to vote on its proposed merger agreement with Frontier Group Holdings Inc.
The change comes two days after JetBlue Airways Corp improved its buyout offer for Spirit to include a higher reverse break-up fee that would be payable in case the deal falls through due to antitrust reasons.
Spirit, which had rejected JetBlue’s previous offer in May, said earlier this week it would review the improved proposal.
“The Special Meeting was postponed to allow the Spirit Board of Directors to continue discussions with Spirit stockholders, Frontier and JetBlue Airways Corporation,” the budget carrier said.
The airline was originally set to vote on the Frontier deal this Friday.
(Reporting by Aishwarya Nair in Bengaluru; Editing by Sriraj Kalluvila and Aditya Soni)
