Canadian Airline Stock Takes Off on Acquisition Agreement

WestJet Airlines Ltd. (TSX:WJA), a Canadian airline stock, powered higher after agreeing to be acquired by Onex Corporation

Sean Mason | May 13, 2019 | SmallCapPower

A headline-grabbing takeover agreement sent shares of a Canadian airline stock surging Monday. Here’s some small stocks making big moves on Monday, May 13, 2019 (as of 4 pm EST):

WestJet Airlines Ltd. (TSX:WJA), a Canadian airline stock, soared 60% to $29.61 on Monday after agreeing to be acquired by Onex Corporation for $31.00 per share in cash.

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As well, shares of HIVE Blockchain Technologies Ltd. (TSXV:HIVE) climbed 15% to $0.63 as the blockchain company said it has entered into a non-binding letter of intent for a proposed strategic partnership with Argo Blockchain PLC to create the world’s largest business-to-business mining service provider aimed at large-scale enterprise and institutional customers.

Treasury Metals Inc. (TSX:TML), meanwhile, reported drill results from its 100% owned Weebigee Gold Project in northwestern Ontario, which included 8 metres of 34.5 g/t gold and 10.33 metres of 10.92 g/t gold in two holes at the W1 zone. Treasury Metals stock moved up as much as 4% following the announcement.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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