3 Min Read
(Reuters) - Canadian businessman Pierre Karl Péladeau said on Tuesday night he wants to start talks to acquire Transat A.T., after Air Canada’s planned C$188.7 million ($148.7 million) takeover of the Montreal-based tour operator was left in limbo.
FILE PHOTO: Air Canada airplanes are pictured at Vancouver s international airport in Richmond, British Columbia, Canada, February 5, 2019. REUTERS/Ben Nelms//File Photo
Air Canada will not extend Monday’s deadline for its acquisition of the company, after European regulators failed to give their approval, Transat said earlier on Tuesday.
Air Canada and Transat are still discussing potential amendments, and the agreement remains until either party ends it.
3 Min Read
(Reuters) - Canadian businessman Pierre Karl Péladeau said on Tuesday night he wants to start talks to acquire Transat A.T., after Air Canada’s planned C$188.7 million ($148.7 million) takeover of the Montreal-based tour operator was left in limbo.
FILE PHOTO: Air Canada airplanes are pictured at Vancouver s international airport in Richmond, British Columbia, Canada, February 5, 2019. REUTERS/Ben Nelms//File Photo
Air Canada will not extend Monday’s deadline for its acquisition of the company, after European regulators failed to give their approval, Transat said earlier on Tuesday.
Air Canada and Transat are still discussing potential amendments, and the agreement remains until either party ends it.
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Paul Chiasson/The Canadian Press
Air Canada’s planned takeover of rival Transat A.T. Inc. is now up in the air after a Feb. 15 deadline the companies set to complete the deal passed while they await approval from European regulators.
The two companies have been discussing unspecified “potential amendments” to their deal that could keep it alive, Transat said in a statement Tuesday. But Air Canada won’t agree to extend the deadline, which means either company now has the right to walk away at any time, Transat said.
Canadian businessman Pierre Karl Péladeau said on Tuesday night he wants to start talks to acquire Transat A.T., after Air Canada's planned C$188.7 million ($148.7 million) takeover of the Montreal-based tour operator was left in limbo.