Allegiant to acquire Sun Country Airlines for – Business News
Low-cost airline Allegiant will acquire Sun Country Airlines in a deal valued at about $1.5 billion, together with debt, the businesses mentioned on Sunday.
As half of the settlement, Sun Country shareholders will obtain 0.1557 Allegiant shares and $4.10 in money for every share, valuing the stock at $18.89, representing a premium of about 19.8% to its Friday close of $15.77.
The deal will add more locations throughout the US and worldwide markets to the company’s community. ZUMAPRESS.com
The deal will broaden the mixed company’s community, including more locations throughout the US and worldwide markets. The fleet will embody about 195 plane, with extra orders and choices.
The mixed company, which will probably be headquartered in Las Vegas, is predicted to generate $140 million in annual synergies by the third yr after closing, and the transaction will probably be accretive to earnings per share within the first yr. The deal is predicted to close within the second half of 2026.
The deal is predicted to close within the second half of this yr. REUTERS
Upon closing, Allegiant and Sun Country shareholders will own about 67% and 33% respectively of the mixed company.
Allegiant CEO Gregory Anderson will lead the mixed company as chief government officer, whereas Robert Neal will function president and chief financial officer. Sun Country CEO Jude Bricker will be a part of the board of administrators.
