AIR CANADA: Quebec court declares Onex bid illegal >T.

0 Comments | M2 Presswire, November, 1999

M2 PRESSWIRE-8 November 1999-AIR CANADA: Quebec court declares Onex bid illegal (C)1994-99 M2 COMMUNICATIONS LTD RDATE:051199 MONTREAL -- Air Canada is gratified by today's ruling by the Quebec Superior Court that the Onex-AMR Offer is illegal under the 10 percent ownership provisions of the Air Canada Public Participation Act.

"This ruling is tremendously important for Air Canada," said Air Canada's President and Chief Executive Officer Robert Milton. "It affirms our strongly held position that the Onex-AMR Offer is illegal as we have believed all along." Justice Andre Wery delivered the ruling this afternoon in Montreal. The ruling states that the Onex-AMR Offer violates the Air Canada Public Participation Act. "From the beginning of this process, we...