Originally Posted by
FNGFO
I don’t have it all figured out nor have I made such a claim. I’m also not running around thinking about this and making emotional arguments and appeals to authority. Btw, I caught that you had to edit to get a couple of zingers in. Very mature.
The naïveté to assume that any large business transaction is completely on the up and up is GMAFB territory. You probably think that accepting a merger proposition without soliciting any other offers, turning down a vastly superior unsolicited offer on the front end and not using that offer to seek a better one from the original suitor constitutes the BOD doing it’s fiduciary responsibilities.
vastly superior offer is subjective. From where I sit it’s not. Capping my share price at $30 which could take many months to years to actually receive doesn’t sound too sexy to me. If your cost basis is say $28 then waiting around to receive $2.00 premium doesn’t sound so exciting. Based on a hypothetical 1000 shares, at todays prices a $30 price is only an $8,000 premium. ULCC only needs to be in the $15-$16 range to make this an even offer. That’s hardly enough for me to be pro B6 with the disruption to personal QOL. And how do we know our BOD hasn’t asked F9 to sweeten the pot? Notice who’s been absolutely silent. Indigo. If this proxy vote is a no, then perhaps indigo has some spare change waiting in the wings to sweeten the pot and put it up for a vote agin? Indigo is many things if not shrewd. Their silence is almost telling. Letting the carnival barkers over at B6 making all this noise could be playing right into Franke’s hands. We go straight up F9 he gets it at the original price. We say no, perhaps they up it. Sitting idly by and letting their dream deal go down without a fight seems implausible to me.