Hi Steve,
Interesting strategy.
If VBA is to take Tiger I would hope that they don't pay a cent for it. In fact they should probably be given money to take it over.
If your scenario was to take place I would like to think that VBA would rebrand the Tiger airlines. It is a tainted brand in the minds of the Australian public.
The takeover should purely be done for access rights, the physical airlines and terminal space (i.e. no good will).