Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Monday, December 4th. I'm Julie Morgan.

Alaska Air is acquiring Hawaiian Airlines.

Boeing is out of the doomsday plane competition, and China Evergrand has more time to restructure

its debt.

Alaska Air said Sunday it agreed to acquire Hawaiian Airlines for $18 per share in cash,

valuing the transaction at $1.9 billion, including debt.

The companies said the combination of complementary domestic international and cargo networks

would enhance competition and expand choices for consumers on the West Coast and the Hawaiian Islands.

Alaska Air said $235 million of expected run rate synergies reflect a conservative estimate of the deal's synergy potential.

The company also expects the deal will generate high single-digit earnings accretion

within the first two years and high teens thereafter.

It expects mid-teens return on investment capital by year three.

Boeing said on Friday it was eliminated by the US Air Force from the competition to develop a successor to the

E4B Night Watch Doomsday plane. Raiders reported that this leaves privately held

defense contractor Sierra Nevada as the only known company seeking the contract.

Boeing and the Air Force reportedly could not reach an agreement on data rights or contract terms,

with a company unwilling to sign any new fixed price agreement

that locks it into paying costs above an agreed limit after it suffered billions of

dollars and losses in recent years on fixed price development programs that include

NASA Starliner and the next Air Force One. The Air Force currently operates

for E4B aircraft with at least one on alert at all times.

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