Allegiant to acquire Sun Country in $1.5 billion cash and stock merger
Allegiant agreed on January 11, 2026 to merge with Sun Country Airlines, with Sun Country becoming a wholly owned subsidiary. Sun Country holders would receive $4.10 in cash and 0.1557 Allegiant shares per share, and the companies say the deal values Sun Country at about $1.5 billion including $0.4 billion of net debt. The deal requires stockholder, regulatory and other approvals and is expected to close in the second half of 2026, with Allegiant shareholders owning about 67% of the combined company.
Key points
- Sun Country holders would receive $4.10 in cash plus 0.1557 Allegiant shares per share, an implied $18.89 per share, a 19.8% premium to the $15.77 closing price on January 9, 2026.
- Allegiant shareholders would own about 67% of the combined company and Sun Country shareholders about 33%, on a fully diluted basis.
- Allegiant expects $140 million in annual synergies within three years of closing and says the deal should be accretive to earnings per share one year after closing.
- Termination fees range from $30 million to $52.23 million depending on the circumstances, and the agreement can be terminated if the merger is not completed by January 11, 2027.
The filing
Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on January 12, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.