Competition agency greenlights Onex's $3.5 bln WestJet buyout
The Canadian Competition Bureau has approved the proposed acquisition of WestJet Airlines Ltd (TSX: WJA) by Onex Corp, the Calgary-based carrier said. The approval was confirmed by the agency's issue of a no-action letter. In May, Onex, a Canadian private equity firm, offered to buy WestJet, Canada’s second-largest carrier, for $3.5 billion or $5 billion including debt. The deal is expected to close in Q4 2019. Founded in 1996, WestJet provides scheduled service to more than 100 destinations in the Americas and Europe and to more than 175 destinations in over 20 countries through partnerships.
14 August 2019•2 mins read
