Actually, WN has gone on record criticising FR for its customer service record; WN may be a low cost carrier, but it has a good quality of customer service (certainly better than most of the majors); can't see WN wanting anything to do with FR.
Nor can I see a situation where EI and FR continue to compete with each other on those 17 routes; it's just inefficient use of a lot of expensive assets; why skimp with minor things like non-reclining seats and not having ice, when you allow that kind of inefficiency to continue; I think the two will work together to make best use of their assets.
Also, what of the consequences if FR is pushed out; he has a shed-load of 738s on order: what's to stop him saying : "right, we'll do this the hard way: I'm basing 10-15 more 738s in DUB and I'm going to target more of EI's routes, head on, matching new routes one for one and I'm going to start low cost t/a". In other words, if he chose to, he could make life very hard for EI.
Can't help wondering what size shareholding FR will have tomorow morning!?