Spirit and Frontier to Merge

amorris311 said:
Well if that is your logic then I would get off JC and start looking at ways to get >26% of the shareholders, who agree with your logic, together and contact the BOD. That’s honesty your best option at this point to get what you want.

Others here have said it already, but these deals are complex and there are more qualified people/firms looking and running scenarios that give the Spirit BOD plenty of information to make an informed decision.
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At the end of the day, it’s shareholder return. We’ll see how it turns out. The good news is, we know “what could have been” with JetBlue. $33/share. That is a calculable value. Let’s see how this turns out as Frontier. As a shareholder, time will tell.
 
zmiller4 said:
My company got bought 3 years ago for almost $60 billion. There were actually multiple competing offers, one from a larger (huge!) company and one from a smaller (slightly less huge) one. The smaller one’s offer was significantly higher in total valuation, but our board said no because they thought benefits to shareholders would be greater with the larger company’s (lower) offer.

The smaller company went out and got funding from Berkshire Hathaway and made an even better offer that our board couldn’t refuse. And it’s worked out well for us. I think I’ve been way happier with our new overlords than I would have been with our other suitor.

Moral: we worker bees don’t really know what tf is going on at our own companies, and CC surely has more of a clue what’s good for his spirit shares in the long term than the spirit board.
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I can tell you having gone through two airline mergers, we employees were literally the last to “know what tf is going on.”

The irony is my last merger, the motto was “Different Works”
 
According to Aero Crew News:

BREAKING:

Spirit Airlines board, after consulting with outside financial advisors, has determined that JetBlue’s hostile takeover is not in the best interests of Spirit and its stockholders.

/Insert Cherokee tears.
 
Ok, so I had some concern that this "Institutional Shareholder Services" was the equivalent of a JD Power award.

After doing some reading, they might-could still be a hired stalking horse for JetBlue, but their "activist" record on the side of labor and ESG topic seems legit.
 
Minuteman said:
Ok, so I had some concern that this "Institutional Shareholder Services" was the equivalent of a JD Power award.

After doing some reading, they might-could still be a hired stalking horse for JetBlue, but their "activist" record on the side of labor and ESG topic seems legit.
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Their main reason was they didn't have a break up fee....now Frontier has offered $250 Million in the event the DOJ doesn't approve ($50 million more than Jetblue)
 
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As a SAVE shareholder they sent us a huge booklet for the merger info and a vote card. It has history of the merger. Spirit and Frontier started talking back in late 2016 (Nov). Signed NDAs, then they expired, then signed NDAs again. The serious stuff started Dec last year, then merger announced February.
 
skypilot6 said:
And another firm says approve it!

www.reuters.com

Spirit shareholders should approve Frontier deal, Glass Lewis says

Shareholder advisory firm Glass Lewis on Friday recommended Spirit Airlines investors approve Frontier Group Holdings Inc's $2.9 billion takeover bid, saying it was the "best available" at this time.
www.reuters.com www.reuters.com

The reverse breakup fee being added is interesting especially a week out from the proxy vote.
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I looked this up. ISS is a much larger firm, with over 61% of the business, while Glass Lewis advises about 28% of all institutional investors.
 
CFIT99 said:
Their main reason was they didn't have a break up fee....now Frontier has offered $250 Million in the event the DOJ doesn't approve ($50 million more than Jetblue)
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JetBlue upped their breakup amount to $350MM, or about 10% of their revised per-share offer of $31.50 (Spirit was trading around $20.75 all last week).

 
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