Jan 11 (Reuters) – Low-cost airline Allegiant will acquire Sun Country Airlines in a deal valued at about $1.5 billion, including debt, the companies said on Sunday.
As part of the agreement, Sun Country shareholders will receive 0.1557 Allegiant shares and $4.10 in cash for each share, valuing the stock at $18.89.
Shares of Sun Country closed at $15.77 on Friday.
(Reporting by Ruchika Khanna in Bengaluru; Editing by Bill Berkrot)
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