BUSINESS

Alaska Air To Buy Virgin America For $2.6 Billion

The move will expand Alaska Air's presence on the U.S. West Coast.

(Reuters) - Alaska Air Group Inc. said on Monday it had agreed to buy Virgin America Inc. for $2.6 billion to expand its presence on the U.S. West Coast.

Alaska's offer of $57 per share in cash represents a premium of about 47 percent to Virgin's Friday's close.

 

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