ONEX CORP TO ACQUIRE WESTJET IN $5B DEAL

May 13, 2019

By Bob Komsic

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WestJet has agreed to be acquired by Onex Corporation and will become a private company in a deal valued at $5-billon.
(Darryl Dyck/Canadian Press)
Completion of the deal’s subject to a number of conditions but the airline’s board of directors has unanimously recommended shareholders vote in favour at a meeting expected to be held in July.
The deal’s expected to close later this year or early next.
WestJet began in Calgary in 1996 and expanded from a low-cost domestic airline to an international carrier. 
Toronto-based Onex, a private equity firm, says it manages $31-billion in assets.
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