Allegiant Travel Company (NASDAQ: ALGT) and Sun Country Airlines (NASDAQ: SNCY) have announced the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with Allegiant's proposed acquisition of Sun Country. This is a significant step toward completing the combination of the two airlines.
The proposed transaction is still subject to other customary closing conditions, including approval from the U.S. Department of Transportation (DOT) of an interim exemption application and the approval of the shareholders of each of Allegiant and Sun Country. The transaction is now expected to close in the second or third quarter of 2026.
Allegiant CEO Greg Anderson expressed his satisfaction with the U.S. antitrust clearance from the Department of Justice, stating that the combination will deliver meaningful benefits for customers, team members, and the communities served. Together, Allegiant and Sun Country aim to create a stronger leisure-focused airline, offering a broader network, more travel options, and increased long-term value creation for shareholders.
Allegiant, a Las Vegas-based integrated travel company, has been connecting customers in small-to-medium cities to world-class vacation destinations since 1999. They offer all-nonstop flights and industry-low average fares. Allegiant's fleet serves communities across the nation, with base airfares less than half the cost of the average domestic roundtrip ticket.
These developments indicate a significant step forward in the acquisition process and suggest a potentially transformative outcome for the two airlines and their stakeholders. Following these announcements, the company's shares moved 1.22%, and are now trading at a price of $89.95. Check out the company's full 8-K submission here.
