Cent Premium and Price

dyck: Onex's friendly deal to buy West Jet Airlines is valued at 5 billion, including assumed debt, according to The Toronto Star. Darryl Dyck / THE CANADIAN PRESS file photo The price represents about a 67 per cent premium to the shares, which closed Friday at 18.52 roughly the same price it reached the year of its initial public offering. Under the agreement announced Monday, Onex will pay 31 per share for West Jet, which will operate as a privately held company after two decades on the Toronto Stock Exchange. The stock closed up nearly 60 per cent or 11.09 at 29.61 on Monday. Tawfiq Popatia, a managing director at Toronto-based Onex, expressed confidence in the airline's trajectory, which has seen it evolve from a low-cost regional carrier to a full-service international airline targeting higher-yield business passengers. The two companies said the deal, worth about 5 billion including debt, will be subject to a shareholder vote, likely in July, and close in the second half of 2019 or early 2020. (news.financializer.com). As reported in the news.

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