Originally Posted by
LoopsMcDoops
Does NK have to be out of the merger agreement by either it being voted down or by voluntarily pulling out for the tender to go through? Trying to figure out what NKs play is here. Frontier is never gonna match the cash amount of JB. I have the feeling our board painted themselves into a corner.
I don't know about your first question.
If they don't have the votes for Frontier, as they clearly don't, I believe they may and try and stay independent, may try and convince the institutional shareholders that their independent plan is better then JB.
The Spirit BOD/management doesn't want to lose their jobs and big payouts. So they will fight JB right up until the institutional shareholders start to have them removed. If the shareholders never get to the point of trying to remove them, they may very well try and stay independent to save their executive jobs.
Or JB caves in to bigger buyouts.