WestJet Airlines' shareholders and optionholders have overwhelmingly voted to approve its previously announced proposed transaction with Onex Corporation, at a special meeting held July 23. Of the votes cast at the Meeting, more than 92.5% of shareholders and optionholders who voted were in favour of the proposed transaction.
WestJet and Onex entered into a definitive agreement on May 12, 2019 for the proposed acquisition of WestJet by Onex under a plan of arrangement, pursuant to which each outstanding share of WestJet will be exchanged for CA$31.00 in cash subject to the terms and conditions of the Arrangement Agreement, following which WestJet will operate as a privately-held company.
