Air Canada Reveals Stiff Penalties (169 mill in 1st yr) if Leaves *A for One World
Oct 27, 1999, 12:13 pm
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Air Canada Reveals Stiff Penalties (169 mill in 1st yr) if Leaves *A for One World
In a report to Canadian securities officials, AC disclosed it must pay huge penalties to abrogate a 10 yr deal with *A to go with One World. The penalty provision is part of a deal AC signed last week with *A to help effectively fight off the hostile takeover deal. Naturally Onex and AA call it a poison pill. They are reportedly still considering further increasing their offer.
