AIR CANADA: Air Canada to mail issuer bid circular >T.

0 Comments | M2 Presswire, November, 1999

M2 PRESSWIRE-8 November 1999-AIR CANADA: Air Canada to mail issuer bid circular (C)1994-99 M2 COMMUNICATIONS LTD RDATE:041199 * Board determines Air Canada Offer provides greater value than Onex-AMR MONTREAL -- Air Canada will mail its Issuer Bid Circular to shareholders by November 5, 1999 in connection with Air Canada's revised offer to purchase up to 36.4 percent, or up to 68,750,000, of its Common Shares and Class A Non-Voting Shares at a price of $16.

Air Canada's increased price per share, announced Tuesday, represents a premium of 46 percent over the closing price Monday, November 1, 1999. The Board of Directors of Air Canada has concluded that the Air Canada Offer is in the best interests of Air Canada shareholders and Air Canada. The Board has...

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