Minister of transport approves WestJet buyout by Onex Capital

The proposed purchase of WestJet by Onex Capital has received minister of transport Marc Garneau’s blessing, clearing a major regulatory hurdle necessary for the deal to close. “We welcome the decision by the minister of transport, and we will continue to cooperate with the necessary authorities on the remaining regulatory approvals,” WestJet CE Ed Sims said. A shareholders’ proxy revealed that Onex’s interest date back to at least mid-2016. WestJet received a non-binding proposal in early 2018, but the two sides ended talks without a deal. The Onex-WestJet deal still must gain several Canadian regulatory approvals as well as WestJet shareholder approval before it is finalised. A special shareholders’ meeting is scheduled for July 23 to consider Onex’s offer. <br/>