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6 Firms Steer Onex’s $3.7B Deal For WestJet

Law360 (May 13, 2019, 12:06 PM EDT) -- Private equity firm Onex said Monday it will take over Canadian airline WestJet in a CA$5 billion ($3.7 billion) deal, with Goodmans, Fried Frank and DLA Piper Canada working on the buy side and Blake Cassels, Pillsbury and Norton Rose Fulbright Canada steering the seller.

Onex Corp. said it will pay CA$31 for each WestJet share, representing a premium of 67 percent on the airline’s closing share price Friday. The CA$5 billion purchase price includes the assumption of approximately CA$1.5 billion in WestJet debt.

The deal will see Onex take over a company that offers flights to more than 100 destinations...

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