WestJet Airlines is being sold for $5 billion.
The Canadian airline has entered into a definitive agreement with Onex Corporation.
It comes after Onex approached WestJet back in March.
Under the terms of the agreement, Onex will pay $31 per share for WestJet, after which the airline will operate as a privately-held company.
The deal is expected to close later this year or early next year.
Today we announced we have entered into a definitive agreement that provides for our acquisition in an all-cash transaction. Read the full release here: https://t.co/oN87D2Iod2 pic.twitter.com/Bhf7nITLgg
— WestJet (@WestJet) May 13, 2019
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