Laser1987
Hawaiian Companies (NASDAQ: HA) and Alaska Air (NYSE:ALK) has entered into a time agreement with the Department of Justice regarding the planned settlement.
Both airlines have agreed not to complete the merger earlier than 90 days after the mutually agreed upon date certified substantial compliance with the second request, according to the an 8-K filing on Wednesday.
The timing agreement comes after the airlines received a request for more information about their settlement from the Department of Justice last month. The Justice Department’s request for more information followed after a judge in January blocked JetBlue’s (JBLU) planned $3.8 billion acquisition of Spirit Airlines (SAVE). The airlines agreed to terminate the agreement earlier this month.
In early December, Alaska Air agreed with Hawaiian Airlines (HA) to a price of $18 per share in cash, valuing the transaction at approximately $1.9 billion including debt.