Alaska Air Group says to acquire Virgin America in $4bn deal

Alaska Air will pay $57 in cash per share for Virgin America


Afp April 04, 2016
PHOTO: REUTERS

WASHINGTON, DC: Alaska Airlines parent company Alaska Air Group said on Monday it was acquiring Virgin America in a friendly takeover worth around $4 billion.

A definitive merger of the airlines had been unanimously approved by the boards of both companies, it said in a statement.

Alaska Air will pay $57 in cash per share for Virgin America.

"The combination expands Alaska Airlines' existing footprint in California, bolsters its platform for growth and strengthens the company as a competitor to the four largest US airlines," it said.
The newly merged company will be headquartered in Seattle, it said.


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