Allegiant Advances $1.5 Billion Sun Country Merger as Corporate Jobs Shift to Las Vegas
Las Vegas, Saturday, 2 May 2026.
Allegiant is set to close its $1.5 billion acquisition of Sun Country this May, creating a 650-route budget powerhouse, though the deal forces corporate employees to relocate to Nevada.
Financial Mechanics and Strategic Scale
Allegiant Travel Company (NASDAQ: ALGT) and Sun Country Airlines (NASDAQ: SNCY) are rapidly approaching the culmination of their merger, with shareholders scheduled to vote on the transaction on May 8, 2026 [1][2]. Regulators have already approved the deal, which executives anticipate will close by May 13, 2026, accelerating an initial timeline that projected completion in the second half of the year [1]. The transaction values Minnesota-based Sun Country at $1.5 billion, a figure that includes $400 million in assumed debt [1]. Under the terms of the cash and stock agreement, Sun Country shareholders will receive $4.10 in cash alongside 0.1557 shares of Allegiant common stock for each share they own [1]. This implies a value of $18.89 per share, representing a 19.8 percent premium over Sun Country’s closing price of $15.77 when the deal was first announced in January 2026 [1]. Upon finalization, Allegiant shareholders will control approximately 67 percent of the combined entity, while Sun Country shareholders will hold the remaining 33 percent on a fully diluted basis [1].