Friday, March 10, 2023

BMO Confirms Offer to Acquire AIR MILES Rewards Program


BMO and LoyaltyOne announced the signing of a purchase agreement for BMO to acquire LoyaltyOne's AIR MILES Reward Program business on Mar 10, 2023. For BMO customers and all AIR MILES collecting Canadians, as well as merchants and partners across the country, BMO's acquisition of AIR MILES would be a made-in-Canada opportunity to enable a reinvigoration for one of Canada's largest loyalty programs. BMO's acquisition of the AIR MILES business is subject to court approval, the receipt of required regulatory approvals and other customary conditions. This process will not affect collectors' rewards miles balances or their ability to collect/redeem AIR MILES.