Parties have reached a settlement agreement over last year's Maui wildfires. While some details are unknown, the settlement gives more certainty to Hawaii Electric Industries' outlook. HE shares look to be trading at a discount to its post-settlement valuation.
The proposed Alaska Air- Hawaiian Holdings merger cleared a regulatory hurdle after the DOJ's investigation period expired. Here's what happens next.
The Department of Justice will not challenge Alaska's proposed deal to acquire Hawaiian, a key milestone in the merger effort. The airlines still need other regulatory approvals before closing.
Shares of Hawaiian Airlines parent Hawaiian Holdings (HA) took off Tuesday after the U.S. Department of Justice (DOJ) chose not to block Alaska Air Group's (ALK) $1.9 billion acquisition of the carrier.
Alaska Airlines announced Monday that its merger with Hawaiian Airlines cleared a major hurdle after the DOJ's time period to complete its investigation expired.
Shares of Hawaiian Holdings jumped on Tuesday after one regulatory hurdle was cleared in its pending takeover by Alaska Air Group.
Alaska Air Group (NYSE:ALK) Inc and Hawaiian Holdings Inc have seen their proposed tie-up approved by the US Department of Justice days after a review period was extended. As the extended period expired on Tuesday, Alaska hailed the end of the antitrust review as “a significant milestone” in the airlines' proposed tie-up plans.
Alaska Airlines said late on Monday that the time period for the U.S. Department of Justice (DOJ) to complete its regulatory investigation of the proposed combination with Hawaiian Airlines has expired.
Alaska Airlines and Hawaiian Airlines will still need approval from the Transportation Department to complete the deal The Justice Department's period to compete its investigation into the deal expired Tuesday without a lawsuit seeking to block the deal.
Shares of Hawaiian Airlines parent Hawaiian Holdings (HA) dropped in intraday trading Monday on concerns the Department of Justice (DOJ) may move to block Alaska Air Group's (ALK) $1.9 billion purchase of the carrier.
Shares of First Hawaiian have done okay since my last update, returning around 10% despite the recent pull back in regional bank stocks. The bank is performing about in line with initial guidance. Rate cuts look set to be a modest headwind, though balance sheet dynamics will be a longer-term tailwind. These shares can do okay for longer-term investors, but the near-term outlook remains tepid at best.
Hawaiian Electric raised the prospect of bankruptcy in its quarterly report. The company recently reached an expensive settlement agreement over the August 2023 wildfires.