Glass Lewis, ISS recommend Onex's $3.5 bln WestJet buyout
Proxy advisors Glass, Lewis & Co and Institutional Shareholder Services Inc (ISS) have recommended shareholders of WestJet Airlines Ltd (TSX: WJA) vote for the company's proposed acquisition by Onex Corp. In May, the Canadian private equity firm offered to buy Calgary-based WestJet, Canada’s second-largest carrier, for $31 per share. The deal is valued at $3.5 billion, or $5 billion including debt. Glass Lewis said the proposal "represents a compelling exit valuation and an attractive market premium" for shareholders. WestJet shareholders will vote on the deal on July 23.
11 July 2019•5 mins read
