Transat continues to back Air Canada bid

Air Transat ©AirTeamImages

Transat A.T. has repeated its recommendation that shareholders should support a takeover offer for the company by Air Canada, following Pierre Karl Peladeau’s hint that he may make an offer. Peladeau is a Canadian businessman and former politician.

The travel company stated that it has never received an offer from Peladeau nor from any of his business associates hoping to acquire Transat.

On Friday, August 23, Transat shareholders are expected to vote on Air Canada’s offer of CA$18 per share, the company states that there is no current alternative transaction on the table.

Peladeau, who owns about a 1.6% stake in Air Transat’s parent company, plans to vote against the Air Canada bid because it is “contrary to the public interest.”

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