WestJet aims to go private with $5 Billion sale
Calgary-based airline WestJet is most likely going private, after being acquired by investment firm Onex in a deal valued at $5B. Of course, the deal is subject to a variety of conditions, including a shareholder vote in July.
However, those conditions didn’t stop the WestJet stock price from jumping roughly 60% between Friday and Monday. Shoutout to those savvy investors that held shares- you guys got a great break.
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For being just over 2 decades old, WestJet sure has seen some success. They started with 5 planes and they’re now at 185. Meanwhile, 5 destinations have turned into 114. Finally, a staff of roughly 220 has grown to over 14,000.
Is it really going to affect your next plane ride? Probably not, but it’s fun to stay up to date on these kinds of massive deals.