|Bid||15.16 x 0|
|Ask||15.18 x 0|
|Day's Range||15.11 - 15.28|
|52 Week Range||4.50 - 17.00|
|Beta (3Y Monthly)||1.12|
|PE Ratio (TTM)||N/A|
|Earnings Date||Sep 12, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||15.21|
The Corporation took delivery of its first two Airbus A321neoLRs. Arrangement plan with Air Canada to acquire the Corporation approved by 94.7% of the shareholders on August 23 and through the issuance of a final approval order by the Superior Court of Québec on August 28 .
MONTREAL , Aug. 29, 2019 /CNW Telbec/ - Transat A.T. Inc. ("Transat") today announced that the Superior Court of Quebec has issued a final order approving the previously announced plan of arrangement with Air Canada (the "Arrangement"). The Arrangement was also approved by 94.77% of shareholders present in person or by proxy at the special meeting of Transat held on August 23, 2019 . The Arrangement is still subject to certain closing conditions, including regulatory approvals described in Transat's management information circular dated July 19, 2019 , as well as other customary closing conditions.
Air Canada (TSX:AC) will face an additional level of government scrutiny as it seeks to acquire Transat (TSX:TRZ), delaying the deal by as much as nine months. Transat also offers cargo services, which accounted for a portion of the C$135 million it recorded as "other" revenue in 2018.
(Bloomberg) -- After battling a rival bid, Transat A.T. and Air Canada now have one more thing to worry about. The gap between Transat’s share price and Air Canada’s takeover bid is sitting at the widest ever -- indicating investors aren’t confident the deal will get done.Transat’s stock fell as much as 5.9% Tuesday to C$15.03 ($11.33), the biggest drop since early July. That’s nearly C$3 below Air Canada’s offer of C$18 a share or C$720 million, which was raised earlier this month in an attempt to fend off an unsolicited bid from Quebec real-estate developer Group Mach Inc.The tour operator’s shareholders voted 95% in favor of the Air Canada bid last Friday. It’s now subject to other closing conditions, including approval under the Canadian Competition Act, the Canada Transportation Act and European Council regulations.Canada’s transport minister Marc Garneau said Monday that officials need until May to review the proposed acquisition in order to ascertain whether the deal is in the best interest of the public.The competition review is anticipated “to be the most strenuous given the overlap of the companies in Montreal and Quebec markets,” AltaCorp Capital analyst Chris Murray said in a recent note. “The upcoming federal election could also expose the transaction to heightened levels of political discourse, which could make regulators reticent to approve relevant reviews.”However, Murray said he believes the deal will ultimately get the required approvals and will close by 2020.Scotiabank analyst Konark Gupta agreed that the deal will eventually get done but added that the “Competition Act approval could be relatively more tedious compared to other regulatory and government approvals” due to substantial overlap between the two companies in sun destinations and transatlantic markets.(Updates with Tuesday’s share move in second paragraph.)\--With assistance from Divya Balji.To contact the reporter on this story: Kristine Owram in Toronto at email@example.comTo contact the editors responsible for this story: Brad Olesen at firstname.lastname@example.org, Divya BaljiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
MONTREAL , Aug. 23, 2019 /CNW Telbec/ - Transat A.T. Inc. ("Transat") is pleased to announce that, at the special meeting of its shareholders (the "Shareholders") held today (the "Meeting"), a significant majority of Shareholders voted in favour of the special resolution (the "Arrangement Resolution") approving the previously announced plan of arrangement under Section 192 of the Canada Business Corporations Act pursuant to which Air Canada will acquire all of the issued and outstanding Class A variable voting shares and Class B voting shares of Transat (together, the "Shares") for $18.00 per Share in cash (the "Arrangement"). Shareholders carrying an aggregate of 26,530,771 votes, representing approximately 70.28% of votes entitled to be cast at the Meeting, were represented in person or by proxy at the Meeting.
MONTRÉAL, Aug. 23, 2019 /CNW Telbec/ - During the special meeting of shareholders of Transat A.T. ("Transat") (TRZ.TO) on August 23, 2019 , the Fonds de solidarité FTQ (the "Fonds") voted in favour of the plan of arrangement announced on June 27, 2019 and amended on August 11, 2019 . A partner of Transat since 1990, the Fonds has always supported the company in its growth. Through thick and thin, Fonds shareholders' savings supported Transat, particularly in the months following 9/11 and during the 2008-2009 financial crisis.
MONTREAL , Aug. 20, 2019 /CNW Telbec/ - Transat A.T. Inc. ("Transat" or the "Corporation"), today confirms that it has taken note of Pierre Karl Péladeau's press release dated August 19, 2019 regarding his recommendation to shareholders with respect to the arrangement with Air Canada (the "Arrangement"). Transat notes that pursuant to this press release, no offer to acquire Transat has been made by Mr. Péladeau or any of his business associates. The arrangement with Air Canada is the result of a rigorous and diligent process by Transat's board of directors (the "Board") supported by financial and legal advisors over a period of more than 6 months.
MONTREAL , Aug. 15, 2019 /CNW Telbec/ - Transat A.T. Inc. ("Transat" or the "Corporation") is pleased to announce that Glass, Lewis & Co., LLC ("Glass Lewis") has recommended that Transat shareholders vote FOR the plan of arrangement (the "Arrangement") between Transat and Air Canada. Glass Lewis is a leading independent third-party proxy advisory firm which, among other services, provides proxy voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders.
MONTREAL , Aug. 13, 2019 /CNW Telbec/ - Transat A.T. Inc. ("Transat" or the "Corporation") is pleased to announce that Institutional Shareholder Services Inc. ("ISS") has recommended that Transat Shareholders vote FOR the plan of arrangement (the "Arrangement") between Transat and Air Canada. This favourable recommendation of ISS was first published on August 11, 2019, based on the original price of $13 per share that was reflected in the pre-amended binding arrangement agreement by which Air Canada was to acquire all outstanding shares of Transat. ISS reiterated its recommendation that Transat Shareholders vote FOR the Arrangement in a subsequent alert after the price per share payable by Air Canada was increased to $18 under an amendment dated August 11, 2019 .
Air Canada (TSE:AC) will spend an additional C$200 million to buy Transat A.T. (TSE:TRZ) to win the support of the Canadian tour company's largest shareholder. (A Canadian dollar is worth US$0.76.) Air ...
Air Canada, Canada's largest airline, raised its offer for Transat by 38.5% to C$18.00 per share on Sunday, winning support from its largest shareholder Letko Brosseau, which holds about 19.3% of shares. Amar Pandya, a senior investment analyst and portfolio manager for Vancouver-based PenderFund Capital Management, would not specify how the company would vote on Air Canada's offer.
MONTRÉAL, Aug. 12, 2019 /CNW Telbec/ - Transat A.T. Inc. ("Transat" or the "Corporation"), announced today that the Tribunal administratif des marchés financiers (Québec) has accepted by way of a majority decision, with immediate effect, Transat's application to cease trade the offer made by Groupe Mach Acquisition Inc. ("Mach") on August 2, 2019 to acquire 6.9 million Class B voting shares of Transat (the "Scheme"). As a result, Mach is not allowed to acquire any shares under its Scheme and is expected to return promptly to shareholders any shares already deposited by them to Mach under its scheme. Mach is also forbidden from using any proxies associated with shares deposited under the Scheme.
MONTREAL , Aug. 11, 2019 /CNW Telbec/ - Air Canada and Transat A.T. Inc. ("Transat") announced today that Air Canada has agreed to increase the purchase price for the acquisition of all issued and outstanding shares of Transat, from $13 to $18 per share and have amended the Arrangement Agreement dated June 27, 2019 accordingly. Based on the increased consideration, the value of the all-cash transaction is approximately $720 million .
To register and attend the roadshow meetings, please contact Laurel Hill Advisory Group by telephone, toll-free at 1-877-452-7184 or by email at email@example.com. MONTRÉAL, Aug. 7, 2019 /CNW/ - Group Mach Acquisition Inc. ("Mach" or the "Offeror"), a wholly-owned subsidiary of Group Mach Inc., is pleased to announce that it will host a number of meetings in cities across Canada to provide more information and answer questions regarding its offer, dated August 2, 2019 , to purchase not less than 6,900,000 Class B Voting Shares (the "Shares") of Transat A.T. Inc. (TSX: TRZ ("Transat"), representing approximately 19.5% of the issued and outstanding Shares at a price of $14.00 per Share (the "Offer").
To register and attend the roadshow meetings, please contact Laurel Hill Advisory Group by telephone, toll-free at 1-877-452-7184 or by email at firstname.lastname@example.org. Mach Inc., is pleased to announce that it will host a number of meetings in cities across Canada to provide more information and answer questions regarding its offer, dated August 2, 2019 , to purchase not less than 6,900,000 Class B Voting Shares (the "Shares") of Transat A.T. Inc. (TSX: TRZ ("Transat"), representing approximately 19.5% of the issued and outstanding Shares at a price of $14.00 per Share (the "Offer").
MONTREAL , Aug. 6, 2019 /CNW Telbec/ - Transat A.T. Inc. ("Transat"), one of the largest integrated tourism companies in the world and Canada's holiday travel leader, announced that it is filing today a complaint with the Tribunal administratif des marchés financiers, regarding Groupe Mach Acquisition Inc.'s highly abusive, coercive, misleading and conditional offer to acquire 6.9 million Class B voting shares of Transat (the "Class B Shares") made on August 2, 2019 (the "Scheme"), representing approximately 19.5% of Transat's Class B Shares.
MONTREAL , Aug. 2, 2019 /CNW Telbec/ - Transat A.T. Inc. ("Transat") one of the largest integrated tourism companies in the world and Canada's holiday travel leader, today confirms it has taken note of Group MACH Inc.'s press release regarding its unsolicited mini tender offer to acquire 19.5% of Transat's Class B voting shares (the "Offer"). The special committee of the Transat's board of directors (the "Special Committee") is reviewing the terms of the Offer with its advisors for the purposes of making a recommendation to shareholders as to its terms. Transat shareholders are advised to TAKE NO ACTION on the Offer and NOT TO TENDER THEIR SHARES until Transat's board of directors has made a formal recommendation to shareholders. Having taken note of the press release announcing the Offer, the Special Committee will consider it with its advisors before making a formal recommendation to Transat's board of directors.
The Offer is being made to all holders of Class B Voting Shares of Transat as of July 17, 2019 , being the record date set by Transat for voting at Transat's upcoming special meeting of shareholders to be held August 23, 2019 (the "Special Meeting"). Shareholders who were not holders of Class B Voting Shares as of the record date, and holders of other classes of securities of Transat, are not eligible to tender to the Offer.