Hawaiian Air’s stock soars 174% after Alaska acquires airline for a 270% premium

Posted on AllSides December 4th, 2023
From The Center

Hawaiian Holdings Inc.’s stock HA, soared 174% in premarket trade Monday, after Alaska Air Group Inc. ALK, announced a deal to acquire the parent of Hawaiian Airlines for about $1.9 billion. Under the terms of the deal, Alaska Air will pay $18 a share in cash, while assuming about $900 million of Haiwaiian’s net debt, for a total equity value of about $1 billion. The price is equal to a premium of 270% over Hawaiian’s closing price Friday at $4.86. The boards of both companies have approved the acquisition, which...

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