Transport Canada says C$720 million deal “raises public interest issues” and requires review that could last until May 2020.
Canada’s largest airline gets backing from Transat’s largest investor for C$720 deal after real estate developer attempted to block acquisition.
Freight revenue drops by 12.1 percent, led by a more than 20 percent plunge from airline’s Pacific routes.
Air Canada (TSE:AC) will acquire Transat A.T. (TSE:TRZ), the parent company of Canada’s third-largest airline, strengthening its position as the country’s dominant carrier. The companies announced on June 27 that they had reached a final agreement for Air Canada to pay C$520 million, or C$13 per share for Transat. (A Canadian dollar equals US$0.76.) Negotiations […]
