AIR CANADA: Air Canada adopts shareholder rights pl plan.

0 Comments | M2 Presswire, September, 1999

M2 PRESSWIRE-1 September 1999-AIR CANADA: Air Canada adopts shareholder rights plan (C)1994-99 M2 COMMUNICATIONS LTD RDATE:310899 * Sets Special Meeting of Shareholders for January 7, 2000 Montreal -- Air Canada announced today that its Board of Directors last night approved a shareholder rights plan for the Company.

The plan provides the Company with time to develop value-enhancing alternatives for shareholders to the unsolicited proposal announced recently by Onex Corporation and American Airlines to acquire the Company's shares and merge the Company with Canadian Airlines Corporation. The plan is designed to provide Air Canada with the opportunity to review options open to it. Air Canada has taken this step, consistent with customary corporate...

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