via investors.com
Alaska Air Group (ALK) will buy Hawaiian Holdings (HA), parent of Hawaiian Airlines, for $1.9 billion, including assumed debt, the carriers announced Sunday. ALK stock tumbled early Monday while HA stock skyrocketed.
Alaska Air will pay $18 a share cash. That’s a 270% premium from HA stock’s Friday close of 4.86.
HA stock nearly tripled in premarket trading Monday. Hawaiian Holdings stock had tumbled 52.6% in 2023, hitting a 12-year low in October.
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