I believe that the break-up fee has already been paid to Spirit shareholders via a $2.22 dividend in October of 2022 and in 12 separate $0.10 dividends paid monthly since January of 2023. I wouldn't count any additional payments into a current investment thesis.
Hard to say. The nature of the trade has changed. Now we have to value spirit as a stand-alone entity, with a break up fee, potential engine issue, debt maturity. The merger is now an optionality in the share price.
I fully agree with you.
What happens to the pending ticket fee?
And is there a break-up fee paynent to the Spirit shareholders still to cone (400m +70m for Spirit were agreed)?
I believe that the break-up fee has already been paid to Spirit shareholders via a $2.22 dividend in October of 2022 and in 12 separate $0.10 dividends paid monthly since January of 2023. I wouldn't count any additional payments into a current investment thesis.
Hard to say. The nature of the trade has changed. Now we have to value spirit as a stand-alone entity, with a break up fee, potential engine issue, debt maturity. The merger is now an optionality in the share price.