Alaska Air is buying Virgin America in a deal worth more than $2 billion

April 4, 2016 11:42 AM

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Alaska Air Group Inc. is buying Virgin America in a deal worth more than $2 billion, creating a powerhouse airline with an expanded West Coast presence.

Alaska Air will pay $57 in cash per Virgin share. That's a 47% premium to the stock's Friday closing price of $38.90.

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