Why makes you think it won’t happen?

The Spirit BOD is completely against it. Frontier could always raise their offer. Spirit could decide to just stay independent. TC and his cronies want a payout, which I sincerely hope JB doesn’t give in to. I also don’t want JB to up their offer. As it stands, it looks like it would take the removal of TC or a ton of pressure put on him by the shareholders. Lot of obstacles still in place.

If F9 could afford to up their offer they likely would have by now. Maybe tomorrow or Wednesday they will, but I doubt it. And who cares if NK board is against it. Shareholders are what matter, not Ted and board. Ted will get paid either way. And NK staying independent isn’t happening. Not with a 50% premium offer on the table.

The short extension over a holiday weekend doesnt seem to imply a whole lot of new negotiating was in the works.

All I’m saying it’s not a forgone conclusion. I would like to see JB acquire Spirit. If they end up with Frontier, that’s fine. The only thing I don’t wanna see is that Schlep rock Ted Christie get paid out.

I mean, I’d like to see B6 remain independent (or acquire AA lol), but I’m 69% sure NK is a foregone conclusion. If NK ends up with F9, great. At least I won’t get effed in an SLI. And yeah Ted Christie will get paid either way. That’s just what CEOs do. But that’s all pilots want to do too. So…

What I also find interesting is Robin said they were looking at making an offer for Spirit right before covid. And the share price back then was around $40ish dollars. So if Goldman Sachs is loaning most of the money then that means back then they were potentially willing to loan out way more money than what's being put on the table right now? At least that was my thinking.

Good point. I do think Robin has a lot of cushion between current offer and his best offer. Definitely has more to offer if F9 ups the bid, but Robin won't pull that lever unless he has to, I wouldn't either. He'll bid war back and forth until he either wins or get to his top dollar limit (which is much more than $34.15)

But then again, since NK is worth less than what the shares were in 2020, would Goldman Sachs want to give a loan of $40 a share for a company that, in today's dollar, is worth less than that? It's a business transaction though so I guess they will probably evaluate if B6 would be good for it without going BK. Anyway, I'll leave that to them, the professionals, because I don't know how they'd look at that.

Reminds me of the cartoon here, a few years ago. Two guys in wheelchairs in the nursing home. Don’t worry, they are still fighting about the merger decades ago.

Share price is irrelevant. Spirit's float has increased significantly since Jan 2020. The pre-covid market cap was only about 5% higher than the current valuation.