Alaska Air Group Inc
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Industrials : Airlines | Mid Cap Value
Company profile

Alaska Air Group, Inc. is the holding company of Alaska Airlines (Alaska), Virgin America Inc., Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska's and Virgin America's scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba. Its Regional segment includes Horizon's and other third-party carriers' scheduled air transportation for passengers across a shorter distance network within the United States under capacity purchased arrangements (CPAs). Its Horizon segment includes the capacity sold to Alaska under CPA. Alaska and Virgin America operate fleets of narrowbody passenger jets. As of December 31, 2016, it maintained two frequent flyer plans: the Alaska Airlines Mileage Plan and the Virgin America Elevate.

Closing Price
$40.59
Day's Change
0.90 (2.27%)
Bid
--
Ask
--
B/A Size
--
Day's High
41.32
Day's Low
38.90
Volume
(Above Average)
Volume:
2,675,840

10-day average volume:
2,278,915
2,675,840

P&G Recommends Stockholders Reject Second Mini-tender Offer From Mason Bell LLC

9:00 am ET September 1, 2020 (BusinessWire) Print

The Procter & Gamble Company (NYSE:PG) has been notified of an unsolicited "mini-tender offer" by Mason Bell LLC to purchase up to 75,000 shares of the Company's common stock at a price of $106.00 per share in cash. Mason Bell's offer price is approximately 23.6% lower than the $138.77 closing price of P&G's common stock on August 28, 2020, the last trading day prior to the date of the offer (August 31, 2020). Mason Bell previously conducted a mini-tender offer for 10,000 shares of the Company's stock at the same significantly-below-market price.

P&G is not associated in any way with Mason Bell LLC or its mini-tender offer.

P&G does not endorse Mason Bell's offer and again recommends shareholders do not tender their shares in response to this unsolicited mini-tender offer because the offer is at a price significantly below the current market price of P&G's shares and is subject to numerous conditions. In addition, mini-tender offers, such as this one by Mason Bell, avoid many of the investor protections afforded to larger tender offers, including the filing of disclosure and other tender offer documents with the U.S. Securities and Exchange Commission (SEC) and other procedures mandated by U.S. securities laws.

The SEC has issued "Tips for Investors" regarding mini-tender offers, noting that some bidders, in making the offers at below-market prices, are "hoping that they will catch investors off guard if the investors do not compare the offer price to the current market price." The SEC's advisory may be found on the SEC website at http://www.sec.gov/investor/pubs/minitend.htm.

Mason Bell has included a condition in the terms of its offer that permits it to terminate the offer if the price of P&G's common stock on the New York Stock Exchange decreases below the $106.00 offer price before the offer expires. Unless Mason Bell waives this condition, P&G common stockholders who tender their shares in the offer will receive a below-market price.

P&G urges common stockholders to obtain current market quotations for their shares of common stock, to consult their broker or financial advisor, and to exercise caution with respect to Mason Bell's offer.

P&G recommends that common stockholders who have not responded to Mason Bell's offer take no action. P&G common stockholders who have already tendered their shares may withdraw their shares by providing the written notice described in the Mason Bell offering documents prior to the expiration of the offer, currently scheduled for 8:00 p.m., New York City Time on October 13, 2020.

P&G urges brokers, dealers and other market participants to review the SEC's recommendations to broker-dealers in these circumstances, which can be found on the SEC website at http://www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.

P&G requests that a copy of this news release be included with all distributions of materials relating to Mason Bell's mini-tender offer.

About Procter & Gamble

P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always(R), Ambi Pur(R), Ariel(R), Bounty(R), Charmin(R), Crest(R), Dawn(R), Downy(R), Fairy(R), Febreze(R), Gain(R), Gillette(R), Head & Shoulders(R), Lenor(R), Olay(R), Oral-B(R), Pampers(R), Pantene(R), SK-II(R), Tide(R), Vicks(R), and Whisper(R). The P&G community includes operations in approximately 70 countries worldwide. Please visit http://www.pg.com for the latest news and information about P&G and its brands.

Cat: PG-IR

View source version on businesswire.com: https://www.businesswire.com/news/home/20200901005385/en/

SOURCE: Procter & Gamble

P&G Media
Jennifer Corso
+1-513-983-2570


P&G Investor Relations
John Chevalier
+1-513-983-9974
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