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Onex shakes up Canada’s airline industry with all-cash deal to buy WestJet

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Onex shakes up Canada’s airline industry with all-cash deal to buy WestJet GlobeBusiness

DARRYL DYCK/The Canadian Press

In a joint statement, the companies said Onex will pay $31 a share for Calgary-based WestJet, a 67-per-cent premium over Friday’s closing price. The deal was announced before markets opened on Monday. WestJet shares closed on Friday at $18.52 in Toronto.WestJet’s stock price is down by 17 per cent in the past 12 months amid rising fuel costs and soft revenues.

 

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globebusiness Should we expect an airfares increase to pay for the purchase?

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