Sun Country Airlines Holdings Inc

Allegiant Travel Company closed a $1.5 billion cash-and-stock deal to acquire Sun Country, creating a combined leisure carrier covering roughly 175 cities, more than 650 routes and a 195-aircraft fleet serving about 22 million passengers annually. Both brands and loyalty programs remain separate in the short term, with operational jobs preserved but potential back-office redundancies during integration. Allegiant projects about $140 million in annual cost and revenue gains over three years, expects the deal to be accretive to EPS in the first full year, and named Greg Anderson CEO of the combined company while Sun Country stock ceased trading on Nasdaq. » Más en finance.yahoo.com

Shareholders of Sun Country Airlines voted at a special meeting to approve the proposed merger with Allegiant Travel Company, under which Sun Country will become a wholly owned subsidiary of Allegiant. Holders of about 81.27% of the outstanding common stock participated in the vote; the merger agreement was approved by a large majority. Allegiant shareholders also approved the issuance of new shares in connection with the transaction. » Más en de.investing.com

Sun Country Airlines shares closed at $19.80, marking a new 52-week high after rising 21.34% over the past year and 87.77% in the past six months. InvestingPro reports a Piotroski score of 9 and a PEG ratio of 0.62, indicating solid fundamentals and an attractive valuation profile. The high coincides with the announced takeover by Allegiant ($4.10 in cash plus 0.1557 Allegiant shares per Sun Country share), analyst downgrades, and plans for a new operating base in Cincinnati to support Amazon’s freight business. » Más en de.investing.com