Onex Corporation board of directors has authorized the initiation of a substantial issuer bid pursuant to which the company will offer to repurchase for cancellation up to $400,000,000 of its subordinate voting shares.

The offer is for up to approximately 5.2 percent of the company’s total number of issued and outstanding subordinate voting shares.

The board of directors of the company has obtained a liquidity opinion from RBC Dominion Securities Inc., a member company of RBC Capital Markets.

Goodmans LLP advised Onex.