MarkD
13th May 2019, 12:55
https://www.newswire.ca/news-releases/westjet-to-be-acquired-by-onex-847792523.html
CALGARY, May 13, 2019 /CNW/ - WestJet Airlines Ltd. ("WestJet")(TSX: WJA (https://www.newswire.ca/news-releases/westjet-to-be-acquired-by-onex-847792523.html#financial-modal)) 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 (https://www.newswire.ca/news-releases/westjet-to-be-acquired-by-onex-847792523.html#financial-modal)) 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.
CALGARY, May 13, 2019 /CNW/ - WestJet Airlines Ltd. ("WestJet")(TSX: WJA (https://www.newswire.ca/news-releases/westjet-to-be-acquired-by-onex-847792523.html#financial-modal)) 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 (https://www.newswire.ca/news-releases/westjet-to-be-acquired-by-onex-847792523.html#financial-modal)) 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.