June 27 (Reuters) - Air Canada AC.TO :
* AIR CANADA AND TRANSAT A.T. INC. CONCLUDE DEFINITIVE ARRANGEMENT AGREEMENT FOR COMBINATION OF THE TWO COMPANIES
* AIR CANADA - VALUE OF ALL-CASH TRANSACTION IS APPROXIMATELY $520 MILLION
* AIR CANADA - VALUE OF ALL-CASH TRANSACTION IS APPROXIMATELY $520 MILLION.
* AIR CANADA - IF DEAL APPROVALS ARE OBTAINED AND CONDITIONS ARE MET, TRANSACTION IS EXPECTED TO BE COMPLETED IN EARLY 2020
* AIR CANADA - BINDING AGREEMENT UNANIMOUSLY APPROVED BY BOARD OF DIRECTORS OF TRANSAT
* AIR CANADA - DIRECTORS, EXECUTIVE OFFICERS OF TRANSAT ENTERED VOTING SUPPORT AGREEMENT WHERE EACH OF THEM COMMITTED TO VOTE IN FAVOUR OF DEAL
* AIR CANADA - TERMS OF ARRANGEMENT AGREEMENT PROVIDE FOR A BREAK FEE OF $15 MILLION PAYABLE BY TRANSAT IN CASE OF TERMINATION OF DEAL IN SOME CIRCUMSTANCES
* AIR CANADA-AGREEMENT ALSO GIVES FOR PAYMENT BY CO OF REVERSE BREAK FEE OF UP TO $40 MILLION IF DEAL TERMINATED ON REGULATORY APPROVALS NOT OBTAINED, OTHERS