Lol. Because they're all old pals and Onex forgot to put non-compete clauses in the deal...
There's no need to put in a non-compete clause if you are just selling everything off to highest bidder.
The Calgary-based airline says the minister determined the deal doesn't raise public-interest issues for national transportation.
WestJet and Onex entered into a friendly deal last month to pay $31 per share cash for the airline, which will operate as a privately held company.
The offer was a reduction from the preliminary price of $35.75 per share submitted in March due to uncertainties related to the grounding of Boeing 737 Max jets, according to the proxy circular provided to shareholders.
Garneau's approval is one of the conditions for the deal to close.
The deal is also subject to other regulatory approvals and approval of WestJet shareholders at a meeting July 23.
I wonder how that lunch is going to taste now true believer.brooks wrote: ↑Tue May 14, 2019 7:24 pmIt's called eating your lunch bud. That's exactly what WJ is going to do to AC on it's international routes. The 787 product is identical if not better than AC and WJ costs structure is lower.Duke Point wrote: ↑Tue May 14, 2019 4:01 pmAir Canada will not be sitting on its hands.
WestJet has more than its work cut out for itself if it wants to secure anywhere near a 10B market cap. That market share has to come from somewhere, and AC won't be giving up any willingly.
Don't ever underestimate CR....he's a shark, and likely smarter and far more experienced and connected in aviation than Gerry.
Interesting times ahead.