Onex Corp

Holding company Onex Corp. said it has completed its almost-$180-million acquisition of Strasburg, Va.-based Automotive Industries Inc., which makes molded plastic car parts and modules. The deal, first announced in January, was to be completed in mid-February but financing took longer to arrange. Tony Johnson, a partner in the deal, said the automotive sector's downturn in January resulted in stretching out financing plans.

Eastman Kodak Co. said Wednesday that it was selling its health-imaging business, created after the discovery of X-rays in 1895, to Canadian investment firm Onex Corp. for as much as $2.55 billion as the picture-taking pioneer bets its future on digital photography and commercial printing. Kodak said it planned to pay down about $1.15 billion in debt and funnel the rest of the proceeds into unspecified digital ventures as profits from its storied film business rapidly erode.

Onex to Offer $1.7 Billion for Brewer Labatt: The Canadian investment company said it wants to purchase John Labatt Ltd. and plans to sell the brewer's non-beer operations, which include the Toronto Blue Jays baseball team. Onex Corp., well known in Canadian financial circles but relatively obscure in the United States, said in disclosing the purchase proposal that it intends to focus Labatt's efforts on brewery operations. Labatt's beer brands include Labatt Blue and Labatt Ice Beer.

The owners of Loews Cineplex Entertainment Corp. said Friday that they were considering selling the 3,100-screen movie theater chain barely two months after they scrapped merger talks with rival AMC Entertainment Inc. Loews' owners, Toronto-based Onex Corp. and Los Angeles-based private equity firm Oaktree Capital Management, said they had hired investment banks Citigroup and Credit Suisse First Boston to help explore strategic alternatives, including a possible sale.

Buyout firm Onex Corp. raised its offer to acquire Canada's two airlines to about $1.4 billion in cash and stock in an effort to entice Air Canada stockholders to sell their shares. Onex said it will raise its cash offer for Air Canada shares to about $8.82 apiece, from the $5.60 it offered in August. The revised bid, up from $1.2 billion, also decreases the role of Onex's partner, AMR Corp.'s American Airlines, which would sell its stake to other shareholders.

Eastman Kodak Co. said Wednesday that it was selling its health-imaging business, created after the discovery of X-rays in 1895, to Canadian investment firm Onex Corp. for as much as $2.55 billion as the picture-taking pioneer bets its future on digital photography and commercial printing. Kodak said it planned to pay down about $1.15 billion in debt and funnel the rest of the proceeds into unspecified digital ventures as profits from its storied film business rapidly erode.

Canadian conglomerate Onex Corp. moved to counter a shareholder rights plan installed by takeover target Air Canada by pressing the airline to hold a special meeting by Nov. 8 to consider its bid. The carrier said it will "vigorously contest" the request, which Onex said it brought to a Canadian court. The board of Air Canada announced the rights plan to give the carrier breathing space to find alternatives to the hostile $671-million bid. It suggested a shareholder meeting for Jan.

The owners of Loews Cineplex Entertainment Corp. said Friday that they were considering selling the 3,100-screen movie theater chain barely two months after they scrapped merger talks with rival AMC Entertainment Inc. Loews' owners, Toronto-based Onex Corp. and Los Angeles-based private equity firm Oaktree Capital Management, said they had hired investment banks Citigroup and Credit Suisse First Boston to help explore strategic alternatives, including a possible sale.

Onex Corp. withdrew its bid to take over Air Canada and restructure Canada's air industry, shortly after a provincial court ruled the proposal was illegal. The dramatic events left Air Canada victorious in staving off the hostile takeover attempt by Onex, which planned to merge it with rival Canadian Airlines to create a single national carrier.

Onex Corp., a Canadian conglomerate that has been aggressively buying up movie theater chains during the last three years, has agreed to buy Los Angeles-based exhibitor Landmark Theatres and Silver Cinemas for about $80 million. Landmark is one of the nation's largest art-house chains, and it operates West Los Angeles' historic Nuart Theatre, South Pasadena's Rialto Theatre and the U.C. Theatre near UC Berkeley among its 67 theaters with 290 screens across the country.

Onex Corp., a Canadian conglomerate that has been aggressively buying up movie theater chains during the last three years, has agreed to buy Los Angeles-based exhibitor Landmark Theatres and Silver Cinemas for about $80 million. Landmark is one of the nation's largest art-house chains, and it operates West Los Angeles' historic Nuart Theatre, South Pasadena's Rialto Theatre and the U.C. Theatre near UC Berkeley among its 67 theaters with 290 screens across the country.

Onex Corp. withdrew its bid to take over Air Canada and restructure Canada's air industry, shortly after a provincial court ruled the proposal was illegal. The dramatic events left Air Canada victorious in staving off the hostile takeover attempt by Onex, which planned to merge it with rival Canadian Airlines to create a single national carrier.

Buyout firm Onex Corp. raised its offer to acquire Canada's two airlines to about $1.4 billion in cash and stock in an effort to entice Air Canada stockholders to sell their shares. Onex said it will raise its cash offer for Air Canada shares to about $8.82 apiece, from the $5.60 it offered in August. The revised bid, up from $1.2 billion, also decreases the role of Onex's partner, AMR Corp.'s American Airlines, which would sell its stake to other shareholders.

Canadian conglomerate Onex Corp. moved to counter a shareholder rights plan installed by takeover target Air Canada by pressing the airline to hold a special meeting by Nov. 8 to consider its bid. The carrier said it will "vigorously contest" the request, which Onex said it brought to a Canadian court. The board of Air Canada announced the rights plan to give the carrier breathing space to find alternatives to the hostile $671-million bid. It suggested a shareholder meeting for Jan.

Labatt Urges Rejection of Onex Bid: Canadian brewer John Labatt Ltd., maker of Rolling Rock beer, said its board has recommended that shareholders reject a $1.7-billion takeover offer from Canadian conglomerate Onex Corp. Labatt said in a mailing to shareholders that the $17.50-a-share bid from the Onex group, which includes several Canadian investors and Luxembourg-based Quilmes Industrial, is "inadequate and not in the best interests of shareholders." On Friday, Labatt filed suit in U.S.

Holding company Onex Corp. said it has completed its almost-$180-million acquisition of Strasburg, Va.-based Automotive Industries Inc., which makes molded plastic car parts and modules. The deal, first announced in January, was to be completed in mid-February but financing took longer to arrange. Tony Johnson, a partner in the deal, said the automotive sector's downturn in January resulted in stretching out financing plans.