Topic: How To Invest

Stock Pickers Digest Hotline – Friday, May 17, 2019

Article Excerpt

WESTJET AIRLINES LTD., $30.10, symbol WJA on Toronto, serves over 100 destinations in North America, Central America, the Caribbean and Europe. The stock jumped 62% this week after the company accepted a $31.00-a-share all-cash takeover offer from Onex Corp. (Toronto symbol ONEX). Onex’s takeover offer represents a 162.7% gain since we first recommended WestJet in our December 2009 issue at $11.80 a share. Assuming WestJet shareholders and regulators approve, Onex expects to the complete the takeover in late 2019 or early 2020. Until then, the company will continue to pay its current quarterly dividend of $0.14 a share. The annual rate of $0.56 yields 1.9%. OUR RECOMMENDATION: WestJet’s 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 and so get the full $31.00 and avoid paying brokerage commissions. WestJet ‘s recent coverage Hotline for May 10, 2019 May 2019 issue SYMANTEC CORP., $19.84, symbol SYMC on Nasdaq, sells computer-security…

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