Air Lease Corp. (AL) on Tuesday announced that it has agreed to be acquired by a newly formed Dublin-based holding company owned by Sumitomo Corp. (SSUMY,8053.T), SMBC Aviation Capital, and investment vehicles affiliated with Apollo-managed funds and Brookfield.
The transaction is expected to close in the first half of 2026.
Under the merger agreement, the company's shareholders will receive $65.00 in cash per Class A common share, valuing the company at about $7.4 billion, or roughly $28.2 billion including debt to be assumed or refinanced net of cash.
The company said the $65.00 per share cash offer represents a 7% premium to its all-time high closing price on August 28, a 14% premium to the 30-day volume-weighted average price, and a 31% premium to the 12-month volume-weighted average price, both ended August 29.
Sumitomo closed trading, 3.52% higher at JPY 4,264 on the Tokyo Stock Exchange.
In the pre-market trading, Air Lease is 6.33% higher at $64 on the New York Stock Exchange.
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