By Greg Roumeliotis and Anirban Sen
NEW YORK, June 2 (Reuters) – Frontier Group Holdings Inc ULCC.O has agreed to present a split-up charge in a bid to safe its $2.9 billion acquisition of Spirit Airways Inc Conserve.N, people acquainted with the subject claimed on Thursday.
The sweetening of the phrases arrives after proxy advisory firm Institutional Shareholder Companies Inc (ISS) urged Spirit shareholders to vote against the offer with Frontier, in section simply because Spirit unsuccessful to negotiate a break-up payment ought to U.S. antitrust regulators shoot down their deal.
JetBlue Airways Corp JBLU.O is seeking to gatecrash the offer with a hostile $3.3 billion supply for Spirit that the latter has rejected, arguing regulators will not greenlight it except if JetBlue can make far more concessions.
Frontier and Spirit may well announce a revised offer that they hope will win assist from Spirit shareholders as early as Thursday, the sources claimed, requesting anonymity mainly because the issue is private. The measurement of the split-up cost could not be uncovered.
Spirit and Frontier did not quickly react to requests for remark.
(Reporting by Greg Roumeliotis and Anirban Sen in New York Editing by Chris Reese)
The sights and viewpoints expressed herein are the sights and views of the creator and do not automatically mirror these of Nasdaq, Inc.