(Images credit to Alaska Airlines & Hawaiian Airlines)
Hawaiian Airlines Shareholders Approve Alaska Airlines Acquisition Bid
Hawaiian Airlines shareholders have approved Alaska Airlines acquisition offer. At a February 16, 2024 meeting of Hawaiian Holdings, Inc., (NASDAQ: HA) the holding company for the airline, shareholders overwhelmingly voted to adopt the acquisition/merger agreement with Alaska Air Group, Inc. the listed (NYSE: ALK) holding company for Alaska Airlines.
This quote of CEO Peter Ingram from the Hawaiian Press Release highlights the importance of receiving shareholder approval and the value the combined entity will deliver to the Hawaii travel market, “Stockholder approval of our transaction with Alaska is an important milestone toward combining our airlines,” said Hawaiian Airlines President and CEO Peter Ingram. “Together, we will bring stronger competition to the U.S. airline industry, deliver more value to our guests and the communities that we serve, and provide greater job opportunities for our employees.”
The proposed transaction must still receive regulatory approval. A process that is expected to take an additional 12-18 months.
The two airlines announced the proposed acquisition agreement on December 23, 2024. The acquisition agreement is valued at approximately $1.9 billion, inclusive of Alaska assuming $900 million of Hawaiian Airline’s debt and a cash offer of $18 for Hawaiian Airline’s outstanding shares.
Source:
Hawaiian Press Release
Photos:
Credit Alaska Airlines & Hawaiian Airlines