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13th May 2019, 12:55

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MarkD

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WestJet purchased by Onex Corp

https://www.newswire.ca/news-release...847792523.html

Quote:

CALGARY, May 13, 2019 /CNW/ - WestJet Airlines Ltd. ("WestJet")(TSX: WJA) announced today it has entered into a definitive agreement that provides for its acquisition in an all-cash transaction. Under the terms of the agreement, Onex Corporation ("Onex")(TSX: ONEX) and its affiliated funds will acquire all outstanding shares of WestJet for $31.00 per share, after which WestJet will operate as a privately-held company. The purchase price represents a 67% premium to Friday's closing share price and a 63% premium to WestJet's 20-day volume-weighted average trading price. The transaction value is approximately $5 billion including assumed debt.

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