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2 weeks agoAllegiant Air to acquire Sun Country Airlines for $1.5 billion | Fortune
Allegiant will acquire Sun Country in a $1.5 billion cash-and-stock deal to combine two leisure-focused U.S. low-cost carriers.
Allegiant Travel Co. will acquire Sun Country Airlines Holdings Inc. in a cash-and-stock deal valued at $1.5 billion including Sun Country's debt, the two carriers said in a joint statement on Sunday. Sun Country's shareholders will receive 0.1557 shares of Allegiant common stock and $4.10 in cash per Sun Country share, the companies said. The offer represents a premium of 19.8% over Sun Country's closing share price on Friday, according to the statement.
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