Originally Posted by
MKEbound
They did want any good investment group would do, sold the shares at a high and locked in a nice profit. A couple of us here have been saying all along that the big investors wouldn't tender their shares to AirTran, but simply sell them on the open market when the price was right. I this a "blow" to YX and a good thing for AirTran? It all depends on how you spin it.
I also don't see how this can be considered anything but a "blow" to YX. It shoots a huge hole in their arguement that the majority of shareholders believe there is added value to the company above what AirTran is offering. Heartland obviously doesn't or they would weather the storm that is probably just days away at this point. In addition, this is a HUGE victory for AirTran showing that YX's claims of a united hometown front is unraveling when the heat is turned up.
I find it very ironic that Heartland is willing to do what the YX board is not - Protect the interests of the shareholders instead of blindly holding on to irrelevant sentimental notions that will never bear fruit.