Bay Area Team Advises Virgin America in its Acquisition by Alaska Air Group

A team from Latham's Silicon Valley office, having counseled Virgin America on its 2014 IPO, advised the California-based airliner in another headline-making transaction.

April 04, 2016

Alaska Air Group, Inc. (NYSE: ALK), parent company of Alaska Airlines, and Virgin America Inc. (NASDAQ: VA) have announced that their boards of directors have unanimously approved a definitive merger agreement, under which Alaska Air Group will acquire Virgin America for $57.00 per share in cash. Including existing Virgin America indebtedness and capitalized aircraft operating leases, the aggregate transaction value is approximately $4 billion. The merger is conditioned on receipt of regulatory clearance, approval by Virgin America shareholders and satisfaction of other customary closing conditions. The companies expect to complete the transaction with regulators’ approval no later than Jan. 1, 2017.

Latham & Watkins LLP represents Virgin America in the transaction with a Silicon Valley-based corporate team consisting of partner Tad Freese and associates Mark Bekheit, Matthew Van Leeuwen, Kathryn Boolukos and Nicole Fritz. Advice has also been provided on technology transaction/IP matters by partner Anthony Klein and associate Arielle Singh in Silicon Valley; on tax matter by partner Grace Chen and associate Jessica Chen in San Francisco; and on benefits and compensation matter by partner James Metz and associate Ashley Wagner in Silicon Valley. A team led by Mr. Freese also advised Virgin America in its 2014 initial public offering.

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