Little time remains for the union members to ratify a takeover proposal.
The company said it had received a $55-a-share takeover proposal from the Haft family.
The company said it had received several takeover proposals.
When asked the likely outcome of the takeover proposal, the aide said: "It's going to get pulled.
The board promised last night it would "carefully review and analyze any reasonable" takeover proposal.
The takeover proposal would leave Canada with only one major airline.
In 2005, they rejected a $2.2 billion unsolicited takeover proposal by Mentor.
Current takeover proposals offer local school districts no guarantees of success.
Merger with another company, which will make the original takeover proposal difficult.
The takeover proposal is valued at $14.25 for each Borden share.