Hawaiian Airlines have set a date for it’s vote on whether to approve the merger with Alaska Airlines: February 16, 2024.
Such information was seen via the airline’s SEC filings where a letter has been sent to all stockholders, inviting them to a special meeting to vote on this.
Without further ado, let’s get into it…
Hawaiian Airlines to Vote on Alaska Merger in February…
The most important part of the letter from Hawaiian Airlines to it’s stockholders regarding the Alaska merger is as files:
“At the special meeting, you will be asked to consider and vote on a proposal to adopt the Agreement and Plan of Merger (as it may be amended from time to time), dated as of December 2, 2023 (which we refer to as the “merger agreement”), by and among Alaska Air Group, Inc., a Delaware corporation (which we refer to as “Alaska”), Marlin Acquisition Corp., a Delaware corporation and a wholly owned subsidiary of Alaska (which we refer to as “Merger Sub”), and Hawaiian.”
“We refer to the merger of Merger Sub with and into Hawaiian as the “merger.” At the special meeting, you will also be asked to consider and vote on a proposal (1) to approve, on a non-binding, advisory basis, the compensation that will or may become payable by Hawaiian to its named executive officers in connection with the merger and (2) for the adjournment of the special meeting to a later date or dates, if necessary or appropriate, to solicit additional proxies if there are insufficient votes to adopt the merger agreement at the time of the special meeting.”
“If the merger is completed, you will be entitled to receive $18.00 in cash, without interest and subject to any applicable withholding taxes, for each share of our common stock or preferred stock that you own immediately prior to the effective time of the merger (unless you have properly exercised your appraisal rights).”
“This amount represents a premium of approximately 270 percent over Hawaiian’s closing stock price on December 1, 2023, the last full trading day prior to the public announcement of our entry into the merger agreement.”
All eyes will be on whether the merger is approved by stockholders at Hawaiian Airlines or not. Alaska Airlines will be watching closely, no doubt.
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