August 23, 2019 / 3:35 PM / 9 months ago

Transat shareholders approve Air Canada's C$720 mln bid for leisure group

MONTREAL, Aug 23 (Reuters) - Transat AT shareholders on Friday approved Air Canada’s bid for the leisure group, in a deal that still requires domestic and European regulatory approval.

The country’s largest carrier has offered C$720 million ($540.70 million), or C$18 a share, bid for the tour operator, which runs budget carrier Air Transat. Air Canada sweetened its initial C$13 a share offer for Transat, locking up support from the tour operator’s largest shareholder Letko Brosseau.

Reporting by Allison Lampert

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