Brianpr3 wrote:Random question would spirit be in trouble if they try to either "beat or whip" the shareholders into accepting the f9 merger over jetblue
Currently ballots have been sent to shareholders for a June 10th meeting. There are three items that shareholders will be voting on:
Proposal No. 1 — Merger Proposal - (This is a binding vote.)
Proposal No. 2 — Compensation Proposal - (This is an advisory vote on golden parachutes for Spirit executives.)
Proposal No. 3 — Adjournment Proposal - (This is a procedural vote.)
From: https://sec.report/Document/0001193125- ... m300541_19
NK/F9 want proposals 1 & 2 to pass, I'm not sure they care about 3, although not passing it may result in a long meeting.
If Proposal No. 1 passes, the merger is between NK/F9 is approved. No beating or whipping the shareholders required. If it doesn’t pass the merger is rejected, and there likely isn’t much that can be done, except somehow sweetening the offer.
(Random aside, the merger agreement is between Spirit, Frontier Group Holdings, Inc. and Top Gun Acquisition Corp. (Top Gun is a subsidiary of Frontier, and it'll be merged with and into Spirit upon completion of the merger.))