Air Lease Corp. (NYSE:AL) shares climbed after the aircraft lessor said it will be acquired by a newly formed Dublin-based holding company backed by Sumitomo Corp. (OTC:SSUMY), SMBC Aviation Capital Ltd., and investment funds tied to Apollo Global Management (NYSE:APO) and Brookfield (NYSE:BN).
The cash deal values the aircraft lessor at $7.4 billion, or $28.2 billion including debt. Shareholders will receive $65 per share in cash, a 7% premium over Air Lease’s record-high closing price and a 31% premium compared with the company’s 12-month average.
Steven Udvar-Hazy, Air Lease’s chairman, said the board determined the offer was the best outcome for investors, citing the certainty of cash value. John L. Plueger, the company’s chief executive, called the deal a “next chapter” for Air Lease and credited employees for building its position in global aviation.
Also Read: Peering Into Air Lease’s Recent Short Interest
The company’s board unanimously approved the merger, which requires shareholder and regulatory clearance. Directors and executives have agreed to vote their shares in favor. Closing is expected in the first half of 2026, and the agreement is not contingent on financing.
For market exposure, investors often turn to the U.S. Global Jets ETF (NYSE:JETS) and the iShares Transportation Average ETF (NYSE:IYT).
Price Action: At last check Tuesday, AL shares were trading higher by 6.21% to $63.95 premarket.
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