Why Hawaiian Holdings Stock Is Flying High Today
Alaska Air Group (NYSE: ALK) has cleared a big hurdle in its effort to acquire Hawaiian Holdings (NASDAQ: HA), and the target's stock is taking off as a result.
Shares of Hawaiian traded up 11% on Tuesday morning after the U.S. Department of Justice said it would not challenge the $1.9 billion deal.
Alaska agreed to acquire Hawaiian last December, but that agreement by no means made the merger a foregone conclusion. Regulators have been taking an increasingly skeptical view of airline consolidation. Earlier this year, the Justice Department successfully stopped JetBlue Airways from acquiring Spirit Airlines.
Source Fool.com
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