WestJet shareholders approve Onex Corp takeover
WestJet Airlines’ shareholders have overwhelmingly voted to accept a $3.5 billion takeover by private equity firm Onex Corp.
More than 92.5% of votes were in favour of the deal, the company said in a statement.
The transaction, worth $31 per share, takes the airline private and is expected to close later this year or possibly by early next year.
It received approval from Canada’s transport minister last month but is still subject to other regulatory approvals.
"We are very pleased to obtain overwhelming support from our security holders. Receiving this support is an important step on our path to closing the transaction," said Ed Sims, WestJet’s president and CEO.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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