Shares of Hawaiian Holdings went up on Tuesday after an important legal hurdle was cleared in the way of Alaska Air Group’s planned takeover.
Hawaii Governor Josh Green said that the time limit for the U.S. Department of Justice to look over the deal has passed.
The governor said, “Alaska has reaffirmed its commitment to our state and will keep the Hawaiian Airlines brand, protect and grow union jobs in our Hawai‘i, and continue to provide important passenger and cargo service to, from, and within the islands.”
The U.S. Department of Transportation still has to agree to the deal.
The deal between the companies is that Alaska will pay $18 in cash for every Hawaiian Holdings share. This makes the deal worth $1.9 billion.
Hawaiian Holdings stock HA went up 11.43%, or 10%, to $17.49. In pre-market trade, Alaska Air stock ALK -0.03% stayed the same.
