JetBlue bids for Spirit Airlines
#731
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Whether they exercise those options is another matter, but let me humbly suggest that when the question of initial rejection was asked while securing financing for the first two offers that B6 didn’t say “We’ll just look dejected, kick our toe in the dirt, take our ball and go home.”
I would suggest that this was one of the possibilities considered when the decision was made to attempt to purchase Spirit, and that B6 is probably talking directly to institutional investors about a tender offer to override the board’s decision.
Or maybe they gave up, recreated the Hudsucker Proxy suicide jump scene and that is why JB has been so quiet of late.
Making a lot of noise now about a takeover only encourages the NK BODs to take actions to head off said action.
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#732
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I have no clue how this stuff works but i imagine a tender offer Monday am would make the shareholders meeting entertaining.
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#735
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I don't see it that way. Right now, F9's offer is worth a bit more than $20/sh and sinking. Putting out an offer of $33/sh will likely kill the F9 offer.
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#736
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Yeah, too quiet for something to not be happening in the background. It's gotta be interesting to be a fly on the wall at LSC right now. Or to be an Uber driver shuttling back and forth between there and lower Manhattan.
If we can piece together this much based on publicly available information, it would be malpractice for jetblue execs to not have considered spirit rejecting the deal and developed a plan B. Giving up NYC, BOS, and some FLL slots and gates as a sweetener to alleviate any regulatory worries suggests they likely did consider the possibility and planned for it, and that they also expected to have to give those up for DOJ approval anyway, so now it's just being committed to up front.
For all its flaws, at least this industry is rarely boring.
If we can piece together this much based on publicly available information, it would be malpractice for jetblue execs to not have considered spirit rejecting the deal and developed a plan B. Giving up NYC, BOS, and some FLL slots and gates as a sweetener to alleviate any regulatory worries suggests they likely did consider the possibility and planned for it, and that they also expected to have to give those up for DOJ approval anyway, so now it's just being committed to up front.
For all its flaws, at least this industry is rarely boring.
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#737
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Just throwing it out. What if JB would to go after F9 instead. Not as good as spirit but might be a cheaper option. They have a lot of overlap between them right ? Idk I’m just a pilot.
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#738
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Indigo owns/controls F9 and numerous other budget airlines around the world. They’re not parting with them.
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#739
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the only way for JB to have a chance is if they can convince a large number of SAVE shareholders to vote against F9 and/or have those shareholders pressure the BOD to deem JB’s offer “superior.” Of course this would be infinitely easier if JB owns a big chunk of SAVE stock.
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#740
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I bought your stock at $20/share a year ago thinking the value would increase once the US opened up after COVID and here we are at $10/share. Can’t say I blame Spirit for rejecting B6.
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