AIR CANADA: Air Canada Directors unanimously re recommend rejection of Onex-AMR resolutions.

0 Comments | M2 Presswire, October, 1999

M2 PRESSWIRE-11 October 1999-AIR CANADA: Air Canada Directors unanimously recommend rejection of Onex-AMR resolutions (C)1994-99 M2 COMMUNICATIONS LTD RDATE:081099 MONTREAL -- In a Management Proxy Circular mailed to shareholders today, the Board of Directors of Air Canada has unanimously recommended that shareholders vote against the resolutions proposed by AirCo, reject the Onex-AMR offer and not tender their shares.

AirCo is a company controlled by Onex and AMR. The Circular accompanies a Notice of Special Meeting to be held on November 8, in connection with the Onex-AMR unsolicited takeover bid for Air Canada. "We are confident that our shareholders will confirm the Board's conclusion that the Onex-AMR offer is unacceptable," said Robert Milton,...

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