Shareholders of Spirit Airlines Inc. decide on Wednesday the fate of the budget airline and vote whether they want to merge with rival Frontier Airlines while JetBlue Airways Corp. Spirit tries to wrestle.
After being delayed four times, the vote will continue on Wednesday. With a higher offer from JetBlue on the table, some Spirit investors, including some of the largest shareholders, have withheld support for the Frontier deal. Barring any last-minute changes, investors are not expected to approve the merger, according to people familiar with the matter. Spirit plans to reconvene its virtual meeting and announce the results later this afternoon.