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1 year oldAlaska Air Group Inc. has agreed to buy rival Hawaiian Holdings Inc.’s Hawaiian Airlines in a $1.9 billion deal to combine the two carriers, challenging the Biden administration’s aggressive stance on mergers that has already derailed one partnership.
Alaska will pay $18 per share in cash in a deal that includes about $900 million of Hawaiian’s debt, according to a statement Sunday. The offer is a significant premium to Hawaiian Holdings’ $4.86 closing share price on Friday.
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