May 16, 2019 / 3:11 PM / in a year

BUZZ-Transat A.T. surges on Air Canada deal talks

** Shares of Canadian tour operator Transat A.T. Inc’s rise 15.3% to C$12.20 after Air Canada says it is in talks to buy co

** In the all-cash deal valued at C$520 mln, Transat shareholders will get C$13 per share, a premium of 23% to its Wednesday close

** Deal allows Air Canada to expand its hub at Montréal-Trudeau Airport, where it has added 35 new routes since 2012 - Chief Executive Officer Calin Rovinescu

** Canada’s Transport Minister Marc Garneau says the deal would likely be subject to provisions of the country’s Competition Act, and that it is within his authority to determine if it warrants a public interest review

** Air Canada shares up 2.3 %, Chorus Aviation ~1%, while WestJet Airlines down ~1%

** Including Thursday’s gains, TRZ shares have risen 105% YTD and Air Canada 53%

Reporting by Shradha Singh in Bengaluru

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below