Air Canada To Buy Transat In $520-Million Cash Deal
May 17, 2019
(Reuters) — Air Canada said on Thursday it is in talks to buy Canadian tour operator Transat A.T. Inc in an all-cash deal valued at $520 million as the airline looks to create a Montreal-based global travel services company.
Transat said it has agreed to a 30-day period of negotiations with Air Canada to finalize a deal. As part of the deal, Transat shareholders will receive $13 per share, a premium of 23 per cent to its Wednesday close.
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