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Stock impact report

Why Sun Country Airlines Stock Climbed Today [Yahoo! Finance]

Sun Country Airlines Holdings, Inc. (SNCY) 
Company Research Source: Yahoo! Finance
10 stocks we like better than Sun Country Airlines › Shares of Sun Country Airlines (NASDAQ: SNCY) jumped on Monday after the low-cost carrier struck a deal to be acquired by rival Allegiant (NASDAQ: ALGT) for roughly $1.5 billion. By the close of trading, Sun Country's stock price was up more than 10%. Under the terms of the agreement, Allegiant would purchase Sun Country for $18.89 per share in cash and stock. That amounts to a nearly 20% premium to Sun Country's closing price on Friday. Sun Country's investors would receive $4.10 in cash and 0.1557 shares of Allegiant stock for each Sun Country share they own. "We believe this transaction delivers significant value to Sun Country shareholders and an opportunity to continue to benefit from our growth plans as a combined company," Sun Country CEO Jude Bricker said in a press release. The deal is projected to close in the second half of this year, subject to shareholder and regulatory approval. The merger would bring to Show less Read more
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