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Company News

Quebec real estate developer offers to buy Transat for C$527.6 mln

June 4 (Reuters) - Real estate developer Group Mach Inc said on Tuesday it offered to acquire Canadian tour operator Transat AT Inc for C$527.6 million ($392.91 million), topping an offer from Air Canada.

Mach would pay C$14 in cash for each Transat share, which represents a premium of 18.2% to Monday’s close.

Last month, Air Canada said it was in talks to buy Transat for C$520 million. ($1 = 1.3428 Canadian dollars) (Reporting by Arundhati Sarkar in Bengaluru; Editing by Shailesh Kuber)

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