The companies announced Thursday that Air Canada will pay $13 per share for the travel company. Under the agreement, Air Canada said it plans to preserve the Transat and Air Transat brands and keep the tour operator’s head office and key functions in Montreal. In approving the Air Canada offer, the Transat board turned down a rival bid by Group Mach Inc., a Quebec real estate developer that offered $14 per share or $527.6 million for Transat. The deal with Air Canada may still face an obstacle in Transat’s biggest investors. Both Air Canada and Transat sought to downplay the threat of market dominance.

Source: thestar June 27, 2019 12:45 UTC