Virgin America Inc. (NASDAQ: VA) Board of Directors has postponed the airline´s 2016 Annual Meeting of Stockholders during the pendency of its proposed merger with Alaska Air Group, Inc. (NYSE: ALK), the company said.
As a result of this postponement and as is common for companies in such circumstances, none of the proposals set forth in Virgin America´s definitive proxy statement on Schedule 14A filed with the SEC on March 25, 2016 are being submitted for consideration by Virgin America stockholders at this time.
On April 4, 2016, Virgin America and Alaska Air Group announced that they have entered into a definitive merger agreement under which Alaska Air Group will acquire Virgin America for USD57.00 per share in cash, or a total equity value of approximately USD2.6 billion.
In connection with the transaction with Alaska Air Group, Virgin America plans to hold a Special Meeting of Stockholders to approve the proposed merger. Virgin America will announce the date of the Special Meeting and the record date for such meeting, as soon as practicable upon mailing of the proxy statement for the Special Meeting.