(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 C$13 per share, a premium of 23 per cent to its Wednesday close. The deal allows Air Canada to expand its hub at Montréal-Trudeau Airport, where it has added 35 new routes since 2012, said Chief Executive Officer Calin Rovinescu in a statement. Things to know about WestJet’s new owner.

Source: Huffington Post May 16, 2019 14:15 UTC