An airline based out of Calgary Alberta, is said to become a private company owned by Onex Corporation if agreed on by majority shareholders. So far, WestJet says that it has agreed to be purchased by Onex Corp. for a deal valued to be at $5 billion. Since the deal was announced, shares in the airline jumped from $18.52 on Friday to $30.03 on Monday morning. WestJet founder Clive Beddoe released the news to the press saying, “I am particularly pleased that WestJet will remain headquartered in Calgary and will continue to build on the success that our 14,000 WestJetters have created.” A special meeting will take place with shareholders in June, to discuss a number of conditions including court, regulatory and shareholder approvals before the deal can be finalized.
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