Investors Extend HAL Stock Offer : Acquisitions: If shareholders of the parent company of Hawaiian Airlines accept a buyout and merger on Nov. 15, then financing for the acquisition will fall into place for a Newport Beach Investor Group.

NEWPORT BEACH —  HAL Acquisition Inc. said Wednesday that it had extended until Nov. 15 its $22-per-share offer to purchase all outstanding common stock of the parent of Hawaiian Airlines.

The extension had been expected. It enables the Newport Beach-based investor group to keep its tender offer open until shareholders of HAL Inc., the airline holding company, vote on the acquisition and on a merger with HAL Acquisition.

Those votes will be taken at a special shareholder meeting on Nov. 15.

Also, HAL Acquisition President J. Thomas Talbot disclosed Wednesday that the new labor contracts negotiated with Hawaiian Airlines’ five unions promise employees 4% pay raises in the fourth year of the pacts and 5% raises in the fifth and final years. In return, the unions, which represent 83% of the 3,000 employees who work for the airline and HAL’s West Maui Airport subsidiary, accepted a wage freeze in the first three years of the contracts.

Talbot, a Newport Beach attorney and longtime airline executive who helped found Air California, Jet America and Southwest Airlines, also elaborated on the preliminary financing commitment that HAL Acquisition has received from Security Pacific National Bank.

He said the bank has agreed to provide as much as $101 million for both the tender offer--which could cost from up to $43 million, depending on how many shares are tendered--and for several loans that would follow HAL Acquisition’s successful completion of the deal.

Included in the financing package would be $55 million in secured revolving loans for ongoing working capital and capital expenditures for Hawaiian Airlines and West Maui Airport.

The financing commitment is subject to a number of conditions, including the merger of HAL Acquisition into HAL Inc. immediately upon consummation of the tender offer.

HAL’s board of directors approved the financing and merger in principal at a meeting on Monday.

As of Tuesday, Talbot said, HAL’s current directors have committed to tender at least 1.1 million shares and an additional 314,000 shares have been tendered by outside shareholders, giving HAL Acquisition control of 72% of the 1.95 million shares outstanding.