Newcourt, CIT strike new deal

Article Abstract:

Toronto, Canada-based Newcourt Credit Group Inc and Livingston, NJ-based CIT Group Inc reached a new C$2.7-billion merger agreement. The deal calls for Newcourt shareholders to receive 0.7 of a CIT share for each Newcourt share held instead of the original C$4.1-billion agreement that gives them 0.92 of a CIT share. Newcourt, the world's second-biggest commercial finance firm, has seen its stock price affected by recent events, including a first quarter 1999 that fell short of analysts' expectations.

Acquisitions & mergers, Offices of Bank Holding Companies, Financial Holding Companies, Newcourt Credit Group Inc.

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Air Canada fights Ottawa in court

Article Abstract:

Air Canada has challenged the federal government's decision to temporarily suspend certain provisions of the Competition Act in the airline industy. The carrier said that Onex Corp's hostile merger proposal should undergo a standard merger review by the Federal Competition Bureau. Onex dismissed the airline's legal challenge and said that its takeover bid is exempt under Ottawa's decision to suspend airline competition rules for 90 days.

Government regulation (cont), Scheduled Airlines, Scheduled Air Transportation, Merger Regulation, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Acquisitions and mergers, Airlines, Corporation law, Air Canada

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