Spirit Airlines has signed a second amendment to its previously announced merger agreement with Frontier Airlines. The merger was previously announced on February 5th, 2022.
“The Spirit Board of Directors conducted a thoughtful and thorough process when considering the competing proposals, and after extensive discussions with Frontier and JetBlue, we firmly believe that a combination with Frontier continues to be in the best interests of our stockholders,” said Mac Gardner, chairman of the board of Spirit. “A merger with Frontier poses less regulatory risk on Spirit stockholders and increases competition in the industry for the benefit of consumers.”
Barclays and Morgan Stanley & Co. LLC are serving as financial advisors to Spirit. Debevoise & Plimpton LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP are serving as legal advisors.