7/12, 7:11 PM (Source: TeleTrader)
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Discovery Capital endorses deal with JetBlue

Discovery Capital, Spirit's shareholder, announced Tuesday that it urged Spirit's board of directors to walk away from the Frontier deal, a step that would favor the agreement with JetBlue.

"We echo the opinion of ISS that the JetBlue proposal is more favorable, and we implore SAVE management to abandon the Frontier Merger without delay," Discovery said in a statement.

The remarks come after Spirit Airlines Inc. delayed the vote on a merger proposed by Frontier Group Holdings Inc that was scheduled for June 30. The company noted it needs more time to consider the buyout offer by JetBlue further.

Baha Breaking News (BBN) / JG