BOSTON, June 4 (Reuters): Shareholder advisory firm Glass Lewis on Friday recommended Spirit Airlines investors approve Frontier Group Holdings Inc's $2.9 billion takeover bid, saying it was the "best available" at this time.
The report, which helps guide investors on how to vote on the proposed merger, comes only hours after Frontier said it agreed to a break-up fee as part of a revised deal the companies hope Spirit shareholders will support.
"We believe the Frontier Merger Consideration provides Spirit shareholders with a fairly compelling valuation and premium for their Spirit shares, on balance," the report said, adding Glass Lewis believed the revised deal terms should offer "added protection" against potential regulatory risk.
‘Spirit shareholders should approve Frontier deal’
FE Team | Published: June 04, 2022 21:59:09
‘Spirit shareholders should approve Frontier deal’
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