WestJet Airlines Ltd. (TSX: WJA) ("WestJet") today announced that the Canadian Competition Bureau has granted unconditional approval for WestJet's proposed transaction with Onex Corporation ("Onex") (TSX: ONEX) (the "Arrangement") by issuing a no-action letter.
Ed Sims, WestJet's President and Chief Executive Officer, said, "Receiving unconditional approval from the Canadian Competition Bureau is another important step on our path to closing the transaction. We continue to engage with the relevant authorities on the remaining approvals."
The Arrangement is still subject to other conditions to closing, including receipt of the remaining regulatory approvals.
Further information regarding the Arrangement is provided in WestJet's management information circular dated June 19, 2019. The transaction is expected to close in the fourth quarter of 2019.