Originally Posted by
Lakeaffect
I tend to agree with you. Jetblue offering more if BOD negotiates is a brilliant move, on JetBlues part. Now, if Spirit says “NO” it appears they are not keeping the best interest of shareholders in mind. But, if Spirit changes “YES” it appears that they were lying before and didn’t have the best interest of shareholders in mind when they rejected the first two JetBlue offers.
Either way it makes our BOD look quite bad.
Either way I think it puts paid to F9 buying NK any time soon.
If even half of what JetBlue has put out is true, they are going to trigger a stockholder class action lawsuit alleging the BOD has failed in their due diligence and is enriching themselves at stockholder expense through a sweetheart deal with board members. That will almost require that a restraining order be put on the buyout until the case is settled.
If JetBlue can’t back up their allegations, they can be countersued.
My guess?
Either
1. The NK BOD finds some fig leaf to hide their embarrassment (like the $3 a share differential) and reverses themselves and goes with B6
2. F9 SUBSTANTIALLY upgrades their offer.