Acquisition of Hawaiian by Alaska
TRANSACTION SUMMARY
TRANSACTION OVERVIEW
FINANCIAL TERMS
■ $18 per share all-cash paid to Hawaiian
shareholders, representing transaction equity
value of $1.0B
Attractive transaction multiple of 0.7x revenue
$235M of run-rate synergies
Expect high single digit accretion to earnings
within first two years and mid-teens ROIC by year
three
■ Transaction value of $1.9B, including $0.9B of
Hawaiian's outstanding adjusted net debt (1)
■ No financing contingency; finance with cash on
hand and new debt
Source: Company filings.
CLOSING CONSIDERATIONS
Customary closing conditions, including regulatory
clearance and Hawaiian shareholder approval
■ Hawaiian shareholder vote expected in 1Q 2024
■ Estimated close in 12-18 months
STAKEHOLDER COMMITMENTS
■ Headquarters to remain in Seattle with
significant presence maintained in Hawai'i
■Two brands maintained under one unified
operating and loyalty platform
■ Continued investment in local communities to
build a vibrant future for Hawai'i
(1)
As of September 30, 2023.
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