Originally Posted by keysersose

Here is what I see happening here.

Jetblue wants Spirit but with a consensual relationship so that there will be someone to run the place between now and the time the merger closes. If they really wanted the tendered shares then they would offer them for $34 and not for $30. The tender offer of $30 is just so the shareholders will pressure SAVE to deal consensually for the $34.

Frontier wants Spirit but doesn't want to pay any real money for it. Frontier hasn't upped their offer in any real way. Jetblue hasn't upped their offer because Frontier hasn't. Why would they? Jetblue will up their offer in a real bidding war I'm sure but the SAVE execs and board haven't extracted anything good from Frontier to force Jetblue to raise their bid. Frontier doesn't want to get caught holding the bag the way ALK did so they delay hoping the ULCC stock price goes up to make their bid look better but it's not and probably won't as we approach recession.

This is a circle Jerk. I have to believe that the SAVE and ULCC execs know how bad they look to the shareholders right now and were hoping for Jetblue to raise their bid in earlier negotiations but Jetblue only came up about $1. Frontier is probably ok with Jetblue winning the war but only if Jetblue is saddled with huge amounts of debt with a much higher bid but Frontier is afraid to raise their bid to force it. Hold on, The room is starting to spin.

SAVE execs must let go of their Spin that Jetblue/SAVE will not pass regulatory consideration and sit down and negotiate what's best for the shareholders the way VA did. I'm a Jetblue pilot but I also bought 2000 shares of SAVE for $18 when this garbage started. I think the merger will be good(for the airline at least) but I also want money.