Air Canada offers to buy Transat Airline for $387 million

Written by on May 19, 2019

Air Canada said it’s in exclusive talks to buy one of the country’s largest travel tour operators, Transat A.T., for about C$520 million ($387 million) amid a wave of consolidation in the Canadian airline industry. The country’s largest airline said in a statement it was prepared to pay C$13 a share for the Montreal-based company, a 23% premium to Transat’s closing share price Wednesday. The offer is more than double Transat’s price on April 30 when it announced it was in talks with at least one potential buyer. Bloomberg

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