Alaska Air to buy Virgin America for $2.6 billion

A Virgin America plane is shown on final approach to land in San Diego, CaliforniaAlaska Air Group Inc said on Monday that it would buy Virgin America Inc for $2.6 billion in cash to become the top carrier on the U.S. West Coast and compete more effectively with larger airlines. At $57 a share, the deal represents a premium of about 86 percent from Virgin America's stock price before reports in March that the company was considering a sale. Analysts characterized the price as steep but said the merger would strengthen Alaska Air.

Read the rest of the story...Alaska Air to buy Virgin America for $2.6 billion

Comments are closed.