Allegiant to acquire Sun Country Airlines for $1.5B

Group 1 - Allegiant will acquire Sun Country Airlines in a deal valued at approximately $1.5 billion, including debt, with Sun Country shareholders receiving 0.1557 Allegiant shares and $4.10 in cash for each share, valuing the stock at $18.89, a premium of about 19.8% to its previous close of $15.77 [1][2] - The acquisition will expand the combined company's network, adding more destinations across the US and international markets, with a fleet of about 195 aircraft [2][3] - The combined company is expected to generate $140 million in annual synergies by the third year after closing, and the transaction will be accretive to earnings per share in the first year [2] Group 2 - Upon closing, Allegiant and Sun Country shareholders will own approximately 67% and 33% of the combined company, respectively [4] - Allegiant CEO Gregory Anderson will lead the combined company as CEO, while Robert Neal will serve as president and CFO, and Sun Country CEO Jude Bricker will join the board of directors [4] - The deal is anticipated to close in the second half of 2026 [2][5]