Transat A.T. shareholders OK takeover by Air Canada
Shareholders of Montreal-based Transat A.T. voted Aug 23 in favour of Air Canada’s takeover bid, ending months of uncertainty and paving the way for review by Canadian regulatory authorities in the coming weeks. The transaction was approved by 95% of Transat shareholders, with approximately 70% of eligible shareholders participating. The proposed transaction would see Air Canada acquire Transat, including its Air Transat operating division, at C$18/share (US$13.60), valuing the transaction at about $720m. The transaction remains subject to closing conditions, including the approval of the Superior Court of Quebec, as well as likely regulatory review by Transport Canada and the Canadian Competition Bureau, in part because Air Canada is the largest competitor in many of Air Transat’s markets. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-08-26/star/transat-a-t-shareholders-ok-takeover-by-air-canada
https://portal.staralliance.com/cms/logo.png
Transat A.T. shareholders OK takeover by Air Canada
Shareholders of Montreal-based Transat A.T. voted Aug 23 in favour of Air Canada’s takeover bid, ending months of uncertainty and paving the way for review by Canadian regulatory authorities in the coming weeks. The transaction was approved by 95% of Transat shareholders, with approximately 70% of eligible shareholders participating. The proposed transaction would see Air Canada acquire Transat, including its Air Transat operating division, at C$18/share (US$13.60), valuing the transaction at about $720m. The transaction remains subject to closing conditions, including the approval of the Superior Court of Quebec, as well as likely regulatory review by Transport Canada and the Canadian Competition Bureau, in part because Air Canada is the largest competitor in many of Air Transat’s markets. <br/>
