Spirit CEO Ted Christie commented that both deals are being evaluated in accordance with management’s fiduciary duty and both suitors are being communicated with actively. The statement appeared to anticipate a consistent criticism from JetBlue CEO Robin Hayes that indicated a lack of engagement.
The statement also confirmed that a new Special Meeting of Spirit Stockholders will be held on Thursday, June 30. Previously, the meeting had been set for June 10, but was postponed due to a late-coming amendment to the JetBlue offer.
“Spirit continues to be bound by the terms of its merger agreement with Frontier, under which a "Superior Proposal" is defined as being both reasonably capable of being consummated and more favorable to Spirit's stockholders from a financial point of view,” the statement read.
JetBlue is nonetheless more optimistic about the prospects of its offer winning out.