The marriage proposal that Spirit Airlines originally rejected from JetBlue Airways is set to go before the South Florida carrier’s shareholders on Wednesday, with industry analysts confident that it would pass with ease.
Two shareholder advisory services, Institutional Shareholder Services and Glass, Lewis & Co. have recommended that investors accept JetBlue’s $3.8 billion offer.
“I would be very surprised if the majority of Spirit stockholders vote to reject,” said Henry Harteveldt of Atmosphere Research, an industry consulting firm in San Francisco. “Spirit stockholders have some form of financial protection if for some reason the [Department of Justice] does not approve the merger.”
