The Daily Chase: Transat says it rejected rival bid; IEA cuts oil demand forecasts LATE TWIST IN TRANSAT TAKEOVER Fascinating disclosure by Transat AT less than an hour before the virtual meeting where shareholders will vote on the proposed sale to Air Canada. In a release shortly after 9am, Transat confirmed that late last month it received an unsolicited proposal from a private investor, who the airline describes as "not actively involved in the airline and tourism industries." Transat said it went ahead and granted the suitor access for a due diligence review, but ultimately decided the proposal was not superior to Air Canada's $5.00/share offer. Shareholders voted to support the Air Canada transaction late this morning. But the story isnât done: regulatory approval is still required.