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Ueberroth, Talbot to Buy Hawaiian Airlines Parent Firm

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Advancing a step in their proposed acquisition of Hawaiian Airlines, Peter V. Ueberroth and Newport Beach developer J. Thomas Talbot have signed a definitive agreement to buy the airliner’s parent company, HAL Inc., for $22 a share.

The investment group headed by Ueberroth and Talbot is offering to buy all the stock of HAL Inc. but needs 51% to complete the transaction. That simple majority--nearly 1.25 million shares--would cost $27.4 million.

HAL Chairman John H. Magoon Jr., who owns 56.9% of the company’s stock, has agreed to tender 1.1 million shares.

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The definitive agreement, already approved by HAL’s directors, is subject to approval by government agencies, the company’s shareholders and the airline’s unions. HAL has scheduled a stockholders meeting for Oct. 19 to obtain the required shareholder approval.

Hawaiian Airlines, Hawaii’s largest inter-island airline, also serves Los Angeles, San Francisco, Seattle, Anchorage, Las Vegas, Australia, New Zealand, Guam and other South Pacific islands.

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