WestJet’s plans were announced by its parent company, Onex Corporation, one of the largest private equity firms in Canada. WestJet Airlines Ltd. says it swung to a profit in the second quarter ahead of Onex Corp. taking the airline private in a $3.5-billion deal. 1 . The completion of Onex Corp.'s $5 billion purchase of Calgary-based WestJet marks the largest private equity deal in aviation history and is cause for "quiet relief and satisfaction," WestJet … By: Christopher Reynolds, The Canadian Press Posted: 09/3/2019 10:37 AM | Last Modified: 09/3/2019 2:23 PM The Investor Relations website contains information about ONEX Corporation's business for stockholders, potential investors, and financial analysts. Under the terms of the agreement, Onex Corporation and its affiliated funds will acquire all outstanding shares of WestJet for $31.00 per share, after which WestJet will operate as a … All that’s required to make this deal a … … Air Canada is calling on the country’s transportation regulator to take a closer look at Onex Corp.’s takeover of WestJet Airlines Ltd., arguing that the $3.5 billion … About Onex. ONEX Corporation was founded and headquartered in Canada. Last May, Onex signed a friendly deal to buy WestJet, paying $31 per […] Private equity firm Onex Corp. is making its long-coveted leap into aviation by signing a friendly deal to buy WestJet Airlines Ltd. in an all-cash transaction of $3.5 billion. To contact WestJet media relations, please email media@westjet.com. Air Canada (AC, Montréal Trudeau) has sent a letter to the Canadian Transportation Agency (CTA) challenging the proposed takeover of rival WestJet (WS, Calgary) by Onex Corp. on the grounds of foreign ownership rules, The Canadian Press has reported.. WestJet Airlines Ltd. shareholders have approved the $5 billion takeover bid by Onex, paving the way for the private equity firm to take the airline private. Air Canada files challenge with federal regulator over Onex's WestJet takeover. The purchase price per share is listed at CAD 31.00 representing about a 67% premium to… At the time Onex acquired WestJet in 2019, Unifor warned workers and the public of its reputation as a predatory takeover specialist with a long history of devastating cost-cutting and restructuring. CALGARY (660 NEWS) – The sale of WestJet is now complete. READ MORE: WestJet to be sold in friendly deal to Onex Corp. for $5 billion Asper is the son of Izzy Asper, who founded CanWest Capital with Schwartz in … The closing comes following the final regulatory approval by the Canadian Transportation Agency. Onex Corp. announced Wednesday it has officially taken over the Calgary-based company for $5 billion including assumed debt. "The good news is that Onex is looking to maintain WestJet as a Calgary-based airline,” said CUPE 4070 President Chris Rauenbusch, in a statement. WestJet Airlines Ltd. shareholders have approved the $5 billion takeover bid by Onex Corp., paving the way for the private equity firm to take the airline private. Onex made its first takeover approach in March 2019, at which point WestJet’s board of directors formed a special committee to advise on the proposed transaction. The deal had to be approved … FOR IMMEDIATE RELEASE . All amounts in Canadian dollars unless otherwise stated – The Onex Group Completes Acquisition of WestJet – CALGARY, Alberta, TORONTO, Ontario, December 11, 2019 – Onex Corporation (“Onex”) (TSX: ONEX) and its affiliated funds (the “Onex Group”) and WestJet Airlines Ltd. As a result of the transaction, WestJet … Toronto-based private equity firm, Onex Corporation, and its affiliated funds will acquire all outstanding shares of WestJet. WestJet: Onex: Jeff Hagen Manager, Investor Relations jeff.hagen@westjet.com 1.877.493.7853: Emilie Blouin Director, Investor Relations 1.416.362.7711 Lauren Stewart The WestJet common shares will be delisted from the Toronto Stock Exchange within a few trading days. Founded in 1984 and headquartered in Canada, Onex manages and invests capital in its private equity and credit platforms on behalf of investors from around the world. WestJet Airlines is a leading Canadian airline providing service to over 100 destinations in Canada, the United States, Europe, Mexico, Central America, and the Caribbean. Onex first approached WestJet with an offer in March after a rough year for the airline, which faced labour disruptions and unionization as it embarked on an ambitious plan to diversify into both the low-cost carrier market with Swoop and the premium market by introducing business class seats on new Boeing Dreamliner jets. The purchase price was C$5 billion. On May 13th, 2019, WestJet Airlines Ltd. (WS/WJA) entered into a definitive agreement for an all-cash transaction that provides for their acquisition. On the committee’s advice, WestJet’s board unanimously recommends shareholders approve the transaction at the special meeting of shareholders, which is expected in July 2019. 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