We did it again

Article Excerpt

WESTJET AIRLINES $30.18 (Toronto symbol WJA; TSINetwork Rating: Extra Risk) (1-877-493-7853; www.westjet.com; Shares outstanding: 114.0 million; Market cap: $3.4 billion; Dividend yield: 1.9%) serves over 100 destinations in North America, Central America, the Caribbean and Europe. The stock is now up over 64% after the company recently accepted a $31.00-a-share all-cash takeover offer from Onex Corp. (Toronto symbol ONEX). Onex’s takeover bid represents a 162.7% gain since we first recommended WestJet in our December 2009 issue at $11.80. Assuming WestJet shareholders and regulators approve, Onex expects to complete the takeover in late 2019 or early 2020. The shares are now trading just below Onex’s offer, which indicates investors do not expect a higher bid. Investors should wait to tender their shares to the offer. That way they’ll get the full $31.00 per share and avoid paying brokerage commissions. WestJet is now a hold. hold…