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Transat accepts Air Canada's buyout offer

Published 2019-06-27, 08:31 a/m
© Reuters.  Transat accepts Air Canada's buyout offer
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June 27 (Reuters) - Air Canada AC.TO said on Thursday Transat AT Inc TRZ.TO had accepted its all-cash offer of C$520 million ($396 million) for the Canadian tour operator.

Discussions between Canada's largest airline and Transat began in May, with real estate developer Group Mach Inc earlier this month offering C$14 per share, topping Air Canada's bid by C$1 per share.

Air Canada and Transat were locked in an exclusivity period that ended on Wednesday.

($1 = 1.3127 Canadian dollars)

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