Onex withdraws

 

Old Nov 5, 99, 3:04 pm
  #1  
ALW
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Join Date: May 1999
Location: Ottawa
Posts: 8,521
Onex withdraws

Onex walks away from airlines
WebPosted Fri Nov 5 17:00:47 1999

MONTREAL - Onex CEO Gerry Schwartz is walking away from his bid to buy and merge Air Canada and Canadian Airlines in the wake of a Quebec judge's ruling that the offer violates the law that limits ownership in Air Canada by a single shareholder to 10 per cent

http://cbc.ca/cgi-bin/templates/view...decision991105

andrew
ALW is offline  
Old Nov 5, 99, 5:33 pm
  #2  
 
Join Date: Sep 1999
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Has Onex already shut down its web site (www.airco.ca) for its CP-AC merger plan? It seems I can no longer access it. I wonder what will happen to CP.
Chiangi is offline  
Old Nov 5, 99, 6:26 pm
  #3  
Company Representative - Air Canada
 
Join Date: May 1999
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Seems like the website is closed. Well, I guess CP has to consider AC's offer now or wish that someone from OneWorld is going to save them.

It's a good thing in a way since CP will now be able to remain as an independent company.

Regards,
Empress
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Old Nov 6, 99, 2:37 am
  #4  
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If AC takes over CP then, short of government intervention, I suspect CP will not exist in 12 months.
KenHamer is offline  

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