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Resource News International, September, 1999
Winnipeg, MB, Canada, Sep. 10, 1999
COLLENETTE DENIES OTTAWA FAVORING ONEX OFFER
Transport Minister David Collenette denied today that the federal government is strongly in favor of Onex Corp.'s C$1.8 billion bid for Air Canada.
Onex chief executive Gerry Schwartz is a well-known Liberal supporter and fundraiser and there has been speculation that could prompt Ottawa to endorse the bid by his Toronto-based buyout specialist.
"We have no preconditioned view of who owners should be," Collenette told a news conference after a speech in Montreal. "That is for the markets to decide."
Onex wants to buy Air Canada and then merge it with Canadian Airlines. Canadian has accepted the proposal but it has been categorically...
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