New Jetblue wants us thread
07-11-2022, 04:47 AM
#121
Gets Weekends Off
Joined APC: Jul 2015
Position: Slowly drifting left of course!
Posts: 108
F9 sent a letter to NK yesterday, filed with the SEC by NK today. Some notable excerpts …
“However, we still remain very far from obtaining approval from Spirit stockholders based on the proxy data we received as of July 8, 2022.”
“Frontier hereby requests that Spirit adjourn its stockholder meeting until 11:00 am ET on July 27, 2022 in order to permit additional time to solicit additional voting proxies in favor of the transaction”
”we hereby request that the Board of Directors of Spirit publicly reaffirm the Company Board Recommendation (as defined in the Merger Agreement) following the public announcement of the Latest JetBlue Acquisition Proposal within ten business days following the date of this letter”
“Additionally, in order to bring this process to an orderly conclusion, we believe that it is in the best interest of both your and our stockholders for Frontier to provide clarity on its response to the Latest JetBlue Acquisition Proposal. In line with our recent discussions, Frontier does not intend to propose any further modifications to the financial terms of the Merger Agreement, and Spirit should consider the terms of the Merger Agreement, as most recently amended on June 24, 2022, as representing Frontier’s last, best and final offer with respect to the pending merger.”
“As has been the case throughout this process, we remain committed to this transaction. However, should the Spirit Board of Directors conclude that it would instead desire to pursue an alternative transaction with JetBlue, we would appreciate being advised of that determination. Further, should this be the determination of the Spirit Board, we would be prepared to consider waiving our “match” right with respect to the Latest JetBlue Acquisition Proposal under appropriate circumstances.”
I wouldn’t say things are souring between F9 and NK, but this doesn’t sound quite as incestuous as they once were.
“However, we still remain very far from obtaining approval from Spirit stockholders based on the proxy data we received as of July 8, 2022.”
“Frontier hereby requests that Spirit adjourn its stockholder meeting until 11:00 am ET on July 27, 2022 in order to permit additional time to solicit additional voting proxies in favor of the transaction”
”we hereby request that the Board of Directors of Spirit publicly reaffirm the Company Board Recommendation (as defined in the Merger Agreement) following the public announcement of the Latest JetBlue Acquisition Proposal within ten business days following the date of this letter”
“Additionally, in order to bring this process to an orderly conclusion, we believe that it is in the best interest of both your and our stockholders for Frontier to provide clarity on its response to the Latest JetBlue Acquisition Proposal. In line with our recent discussions, Frontier does not intend to propose any further modifications to the financial terms of the Merger Agreement, and Spirit should consider the terms of the Merger Agreement, as most recently amended on June 24, 2022, as representing Frontier’s last, best and final offer with respect to the pending merger.”
“As has been the case throughout this process, we remain committed to this transaction. However, should the Spirit Board of Directors conclude that it would instead desire to pursue an alternative transaction with JetBlue, we would appreciate being advised of that determination. Further, should this be the determination of the Spirit Board, we would be prepared to consider waiving our “match” right with respect to the Latest JetBlue Acquisition Proposal under appropriate circumstances.”
I wouldn’t say things are souring between F9 and NK, but this doesn’t sound quite as incestuous as they once were.
07-11-2022, 05:06 AM
#122
The REAL Bluedriver
Joined APC: Sep 2011
Position: Airbus Capt
Posts: 6,897
Originally Posted by PrattFan
F9 sent a letter to NK yesterday, filed with the SEC by NK today. Some notable excerpts …
“However, we still remain very far from obtaining approval from Spirit stockholders based on the proxy data we received as of July 8, 2022.”
“Frontier hereby requests that Spirit adjourn its stockholder meeting until 11:00 am ET on July 27, 2022 in order to permit additional time to solicit additional voting proxies in favor of the transaction”
”we hereby request that the Board of Directors of Spirit publicly reaffirm the Company Board Recommendation (as defined in the Merger Agreement) following the public announcement of the Latest JetBlue Acquisition Proposal within ten business days following the date of this letter”
“Additionally, in order to bring this process to an orderly conclusion, we believe that it is in the best interest of both your and our stockholders for Frontier to provide clarity on its response to the Latest JetBlue Acquisition Proposal. In line with our recent discussions, Frontier does not intend to propose any further modifications to the financial terms of the Merger Agreement, and Spirit should consider the terms of the Merger Agreement, as most recently amended on June 24, 2022, as representing Frontier’s last, best and final offer with respect to the pending merger.”
“As has been the case throughout this process, we remain committed to this transaction. However, should the Spirit Board of Directors conclude that it would instead desire to pursue an alternative transaction with JetBlue, we would appreciate being advised of that determination. Further, should this be the determination of the Spirit Board, we would be prepared to consider waiving our “match” right with respect to the Latest JetBlue Acquisition Proposal under appropriate circumstances.”
I wouldn’t say things are souring between F9 and NK, but this doesn’t sound quite as incestuous as they once were.
“However, we still remain very far from obtaining approval from Spirit stockholders based on the proxy data we received as of July 8, 2022.”
“Frontier hereby requests that Spirit adjourn its stockholder meeting until 11:00 am ET on July 27, 2022 in order to permit additional time to solicit additional voting proxies in favor of the transaction”
”we hereby request that the Board of Directors of Spirit publicly reaffirm the Company Board Recommendation (as defined in the Merger Agreement) following the public announcement of the Latest JetBlue Acquisition Proposal within ten business days following the date of this letter”
“Additionally, in order to bring this process to an orderly conclusion, we believe that it is in the best interest of both your and our stockholders for Frontier to provide clarity on its response to the Latest JetBlue Acquisition Proposal. In line with our recent discussions, Frontier does not intend to propose any further modifications to the financial terms of the Merger Agreement, and Spirit should consider the terms of the Merger Agreement, as most recently amended on June 24, 2022, as representing Frontier’s last, best and final offer with respect to the pending merger.”
“As has been the case throughout this process, we remain committed to this transaction. However, should the Spirit Board of Directors conclude that it would instead desire to pursue an alternative transaction with JetBlue, we would appreciate being advised of that determination. Further, should this be the determination of the Spirit Board, we would be prepared to consider waiving our “match” right with respect to the Latest JetBlue Acquisition Proposal under appropriate circumstances.”
I wouldn’t say things are souring between F9 and NK, but this doesn’t sound quite as incestuous as they once were.
07-11-2022, 08:46 AM
#125
Gets Weekends Off
Joined APC: Sep 2015
Posts: 105
Originally Posted by fumeevented
I like how they said they weren't going to increase their offer but they want time to "convince" shareholders. aka, bribe just enough institutional investors to cross the 51% threshold and screw the rest.
07-13-2022, 04:08 AM
#128
Gets Weekends Off
Joined APC: Apr 2022
Posts: 107
Originally Posted by Flyby1206
And the Spirit BOD doubles down supporting the F9 offer…?
07-13-2022, 04:56 AM
#130
Gets Weekends Off
Joined APC: Jun 2016
Posts: 174
Originally Posted by trd270
Grasping at straws, hopefully we’ll get a new BOD out of this as well to guide us through the acquisition. Guessing the shareholders are fed up
Thread
Thread Starter
Forum
Replies
Last Post
