08:48 AM EST, 11/04/2024 (MT Newswires) -- Air Transport Services Group ( ATSG ) said Monday it has entered into a definitive agreement to be acquired by alternative investment firm Stonepeak in an all-cash deal valued at about $3.1 billion.

The deal is expected to close in the first half of 2025, subject to customary closing conditions, the company said.

Air Transport shares were nearly 23% higher in premarket trading.

Price: 21.25, Change: +3.85, Percent Change: +22.13