According to CTV News, Alaska Airlines has announced a USD $1.9 billion deal to acquire Hawaiian Airlines, a move that may face regulatory scrutiny from the Biden administration concerned about potential fare hikes.
The deal, which includes USD $900 million in Hawaiian debt, aims to maintain both airlines' brands, rooted in the 49th and 50th states, with Seattle as the combined company's base.
Alaska will pay USD $18 per share in cash for Hawaiian, whose stock closed at USD $4.86. The companies anticipate that the acquisition, approved by their boards, will increase profits within two years. However, regulatory approval and shareholder consent from Hawaiian Holdings are still pending.
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