Quote:
I think this is just the boards somewhat firm response to the constant drip, drip, drip of JetBlues rhetoric
If the shareholders vote against the F9 deal, it still isn’t over, and it isn’t necessarily still B6 at that point. Franke can still offer more. If I’m not mistaken, this vote on June 10th is only about the F9 deal, packaged as originally advertised, and has nothing (directly) to do with the B6 deal. As a SAVE shareholder, even if I wanted it to go to F9, I’d want a sweeter deal since the share prices have been hammered, and the value of the deal has thusly decreased. So I’d vote no, force Franke to up his offer, and if that never happened, take the gains that would occur from the B6 deal (ie $33/sh minus the value of time/uncertainty that would be subtracted until the deal were to close), sell the stock, then buy ULCC if that was where I wanted to place my bets.Originally Posted by FlyGuy2002
All depends how the vote comes out. My assumption is if the shareholders vote in favor of F9 then it’ll more or less be settled. The board would have spoken and then the shareholders would have spoken. Not sure what avenue JetBlue would have to go down .. perhaps lawsuits and attempt for some sort of injunction to keep the F9 deal from happening? Who knows but I’m assuming in this scenario the winner is F9 and that regulatory process continues. If shareholders vote the other way then B6 it is. But that regulatory process and completion sounds much lengthier and messier.I think this is just the boards somewhat firm response to the constant drip, drip, drip of JetBlues rhetoric
So, it’s still not fully decided on June 10th. Franke hasn’t upped his offer because he hasn’t needed to—yet. He will wait until he has to—just like B6 will wait until they have to drop either the NEA or spirit. Until then, they will try for both and claim they think both will separately be approved. Even if B6 doesn’t think that is likely, they won’t say as much until the DOJ opines.