It was announced on Monday morning that WestJet Airlines Ltd. has been acquired by Toronto-based Onex Corporation (“Onex”).
Under the terms of the agreement, Onex and its affiliated funds “will acquire all outstanding shares of WestJet for $31.00 per share”.
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Today we announced we have entered into a definitive agreement that provides for our acquisition in an all-cash transaction. Read the full release here: https://t.co/oN87D2Iod2 pic.twitter.com/Bhf7nITLgg
— WestJet (@WestJet) May 13, 2019
According to a statement released by WestJet, 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.
Founded in 1996, WestJet provides scheduled and charter air service to numerous destinations across Canada, and the world, including the United States, Europe, Mexico, Central America, and the Caribbean.
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