WestJet to be sold in friendly deal to Onex Corp. for $5 billion
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Re: WestJet to be sold in friendly deal to Onex Corp. for $5 billion
You'll have to get your apprentice ticket too so you can change tires, check oil, button up cowlings, change light bulbs, etc.
Re: WestJet to be sold in friendly deal to Onex Corp. for $5 billion
Lol. Because they're all old pals and Onex forgot to put non-compete clauses in the deal...
Re: WestJet to be sold in friendly deal to Onex Corp. for $5 billion
Guys don't be ridiculous.
There's no need to put in a non-compete clause if you are just selling everything off to highest bidder.
There's no need to put in a non-compete clause if you are just selling everything off to highest bidder.
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Re: WestJet to be sold in friendly deal to Onex Corp. for $5 billion
Federal Transport Minister Marc Garneau has given his approval to the proposed $3.5-billion acquisition of WestJet Airlines by Onex Corp.
The Calgary-based airline says the minister determined the deal doesn't raise public-interest issues for national transportation.
WestJet and Onex entered into a friendly deal last month to pay $31 per share cash for the airline, which will operate as a privately held company.
The offer was a reduction from the preliminary price of $35.75 per share submitted in March due to uncertainties related to the grounding of Boeing 737 Max jets, according to the proxy circular provided to shareholders.
Garneau's approval is one of the conditions for the deal to close.
The deal is also subject to other regulatory approvals and approval of WestJet shareholders at a meeting July 23.
The Calgary-based airline says the minister determined the deal doesn't raise public-interest issues for national transportation.
WestJet and Onex entered into a friendly deal last month to pay $31 per share cash for the airline, which will operate as a privately held company.
The offer was a reduction from the preliminary price of $35.75 per share submitted in March due to uncertainties related to the grounding of Boeing 737 Max jets, according to the proxy circular provided to shareholders.
Garneau's approval is one of the conditions for the deal to close.
The deal is also subject to other regulatory approvals and approval of WestJet shareholders at a meeting July 23.
Re: WestJet to be sold in friendly deal to Onex Corp. for $5 billion
I wonder how that lunch is going to taste now true believer.brooks wrote: ↑Tue May 14, 2019 7:24 pmIt's called eating your lunch bud. That's exactly what WJ is going to do to AC on it's international routes. The 787 product is identical if not better than AC and WJ costs structure is lower.Duke Point wrote: ↑Tue May 14, 2019 4:01 pm Air Canada will not be sitting on its hands.
WestJet has more than its work cut out for itself if it wants to secure anywhere near a 10B market cap. That market share has to come from somewhere, and AC won't be giving up any willingly.
Don't ever underestimate CR....he's a shark, and likely smarter and far more experienced and connected in aviation than Gerry.
Interesting times ahead.
DP.
Re: WestJet to be sold in friendly deal to Onex Corp. for $5 billion
I wonder why Onex doesn't just pony up the money for Transat. Without it WestJet is going to get decimated and their investment will be lost.