Issue dated March 30, 1989.
PWA Corporation received approval March 23 from the National Transportation Agency for its proposed acquisition of Wardair Inc. on the grounds that the transaction is not against the public interest.
The Agency’s decision is subject to a statutory review period of up to 30 days during which PWA Corporation is prohibited from completing its proposed acquisition.
PWA’s offer to purchase the shares of Wardair Inc. expires on April 14, 1989, but expects to extend its offer to permit expiry of the review period if necessary.
PWA Corporation is still awaiting approval of the acquisition from the Competition Bureau. It is expected by the end of April.
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