Spirit-Frontier Deal Backed by ISS

Updated June 25, 2022 6:56 pm ET

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Proxy advisory firm Institutional Shareholder Services Inc. recommended Spirit Airlines investors vote for a proposed merger with Frontier Airlines reversing its position on the deal after Frontier sweetened its offer Friday.

“On balance, support for the merger with Frontier on the revised terms is warranted,” ISS wrote in a report that was published late Friday and made public Saturday.

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