Summary by Moomoo AI
Hawaiian Holdings, Inc. (Hawaiian) has reported a significant development in its ongoing merger process with Alaska Air Group, Inc. (Alaska). The merger, which was initially agreed upon on December 2, 2023, is subject to regulatory approvals, including compliance with the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act). On February 7, 2024, both Hawaiian and Alaska received a Second Request for additional information from the Department of Justice's Antitrust Division, extending the waiting period under the HSR Act. As of March 27, 2024, Hawaiian and Alaska have entered into a timing agreement with the DOJ, agreeing not to finalize the merger for 90 days after certifying compliance with the Second Request, unless the DOJ concludes its investigation earlier. The companies are working cooperatively with the DOJ and expect to continue this collaboration. The merger, upon completion, will result in Hawaiian becoming a wholly owned subsidiary of Alaska.