HA - Why Alaska Air Shares Are Diving Today | Benzinga
Alaska Air Group Inc (NYSE: ALK) shares are diving today by over 12% after the company penned an acquisition deal with Hawaiian Holdings Inc (NASDAQ: HA) worth approximately $1.9 billion, including $0.9 billion of HA's net debt.
The transaction value translates to $18.00 per share in cash, reflecting a transaction multiple of 0.7x, around one-third the average of recent airline transactions.
The merger will boost the fifth ...