The Canadian Competition Bureau has granted unconditional approval for WestJet's proposed transaction with Onex Corporation 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 $5 billion deal is still subject to other conditions to closing, including receipt of the remaining regulatory approvals.
The transaction is expected to close in the fourth quarter of 2019.