Under the terms of the merger agreement, shareholders of Air Lease's Class A common stock will receive $65.00 in cash for each share held immediately prior to the effective time of the merger. Additionally, existing preferred stock will remain outstanding as preferred stock of the surviving corporation. Following the merger, Air Lease will be renamed Sumisho Air Lease Corporation, and its Class A common stock will be delisted from the New York Stock Exchange.
This merger is significant as it consolidates Air Lease's position in the aircraft leasing market, allowing it to leverage the resources and expertise of its new parent company, which includes major stakeholders such as Sumitomo Corporation and SMBC Aviation Capital Limited. The completion of this merger is anticipated to enhance operational efficiencies and expand Air Lease's capabilities in the global market.
The announcement of the final regulatory approval is a crucial step in the merger process, reflecting the confidence of regulatory bodies in the strategic alignment and benefits of the merger. Air Lease's management has expressed optimism about the merger, highlighting the potential for increased shareholder value and enhanced service offerings to airline customers worldwide. The company encourages investors to stay informed through its website for further updates as the merger progresses.
