Alaska Airlines completes $1.9 billion acquisition of Hawaiian
CNN
Alaska Airlines said on Wednesday it had completed its $1.9 billion acquisition of Hawaiian Airlines after reaching an agreement with the U.S. Department of Transportation.
Alaska Airlines said on Wednesday it had completed its $1.9 billion acquisition of Hawaiian Airlines after reaching an agreement with the U.S. Department of Transportation. The airlines on Tuesday agreed to maintain key Hawaiian routes and adopt consumer protections under an agreement that will last six years. The Justice Department in August chose not to block the deal that was announced in December by Alaska, the fifth-largest domestic U.S. airline, to merge with Hawaiian, the 10th-largest carrier. Alaska CEO Ben Minicucci said in an interview that the deal would be good for competition and consumers and would expand access for consumers to both networks and give Alaska access to Hawaiian’s fleet of wide-body airplanes. “It’s just a few more arrows in our quiver on how we deploy airplanes across our entire network,” Minicucci said. “Putting the right airplane in the right market to deliver the best results for the combined entity.” Minicucci said the airline expects to deliver at least $235 million in run-rate synergies by year three.
Nippon Steel is expected to re-file its application for a national security review by American regulators of its $15 billion takeover bid of US Steel, sources familiar with the matter told CNN on Tuesday, buying Japan’s largest steelmaker an additional 90 days to close its acquisition of an American rival after political opposition emerged in an election year.
So far, the attacks that targeted Iran-backed Lebanese militant group Hezbollah members through their pagers have had devastating consequences. At least nine people, including an eight-year-old girl, were killed, and at least 2,800 were wounded. Over 150 of those injured are in critical condition, according to the Lebanese health minister.