WestJet Airlines sold for $5bn

WestJet Airlines has been sold to Onex Corp. in deal worth $5 billion, including assumed debt. WestJet will retain its headquarters in Calgary, but operate as a privately-held company, the company says. Under the terms of the deal, WestJet shareholders will receive C$31 for each share held, representing an about 67% premium to its closing price on Friday. The investment will be led by Onex Partners, Onex’ private equity platform focused on larger investment opportunities. It is the recommendation of the WestJet board of directors that shareholders vote in favour of the deal. “Since our first flight in 1996, WestJet has