Originally Posted by
FlyGuy2002
Spirit shareholders have until end of June to tender their shares .. and I have serious doubts they’ll get the 51% they desire. Cancel the agreement in principal with frontier as the acquiring airline before the end of June. and enter a new AIP with frontier as us as the purchasing airline.. I Believe there is a fee to pay frontier in that case but it’s not terribly large .. and then assuming JetBlue doesn’t get the 51% shares .. what’s would be there move ? They can’t stop us from buying another airline…
With the JB offer on the table, NK shareholders are against the Frontier merger (which would include a reverse Frontier merger). That is why the vote was delayed, it was clear the vote would fail. The shareholders could remove the NK BOD if they tried a maneuver like you describe. In addition, it would be a class action shareholder lawsuit dream...
The shareholders were making their voice heard behind the scenes, which is why the vote was delayed.
What size blue shirt would you like?