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. . For weeks, shares in Transat AT Inc. . traded above Air Canada's takeover bid of $ 5 per share. They've gotten closer to that price as the deal gets closer...
MONTREAL - Air Canada announces general manager Calin Rovinescu to retire next year after leading the company for more than a decade The airline says Rovinescu will step down on February 15 Michael Rousseau, deputy general manager and chief financial officer of Air Canada, has been appointed to succeed him Rovinescu has been Chief Executive Officer of Air Canada since April 1, 2009 He has returned to the leadership position after having served as Executive Vice President, Corporate Development and Strategy, and Chief Operating Officer. restructuringRousseau has been Deputy Managing Director since December 2018 and CFO of Air Canada since 2007 This Canadian Press report first appeared on October 16, 2020 Companies in this story: (TSX: AC) The Canadian Press
Air Canada is still looking to take Transat AT under its wing despite the COVID-19 pandemic that rocked the airline industry, but it will pay much less than initially expected
Air Canada will pay almost four times less to take the Transat AT under its wing
Air Canada reduced the purchase price of tour operator Transat AT Inc to nearly a quarter of its previous offer, citing the impact of the Covid-19 epidemic on the airline industry
Air Canada and Transat AT, the parent company of Air Transat, have renegotiated the terms of their planned merger, sharply lowering the price per share This decision was prompted by the devastating impact of the coronavirus on the airline industry. Montreal-based carriers said on October 10 that
Air Canada had obtained Transat shareholder approval for the transaction last year with a softened C $ 18.00 share offering, to strengthen its leisure activity Under revised terms of the agreement, Air Canada has announced that it would acquire all the shares of Transat for C $ 5 per share, which represents a premium of approximately 305% at the last closing of Transat on Friday "Air Canada intends to finalize its acquisition of Transat, at a reduced price and modified conditions, "Calin Rovinescu, CEO of Air Canada said in a statement