Possible, but doubtful. Here's how I see it:
1. NW writes off investment.
2. Midwest needs more money. So don't ask NW for it.
3. Delta says keep it breathing.
4. TPG throws its part in. Finds Republic to throw in some, too, and get some parked airplanes flying.
5. DL/NW merger approved.
6. TPG sells gates and slots to DL
7. TPG takes money and shuts Midwest down. Republic secures DL flying out of MKE (scope permitting) for keeping Midwest alive.
I guess I doubt RAH really wants another certificate. Wouldn't be the first time I was wrong, though.
RE; Number 6. The gates belong to Milwaukee County and the "slots" belong to the U.S. Government. Neither one is an asset or "for sale". Sorry.