Four Sask. players named to Canada world junior hockey championship team
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Berkly Catton, Brayden Yager, Caden Price and Tanner Howe were all named.
Just days after Onex Corp. announced a $5-billion deal to buy WestJet, Air Canada appears to be making moves of its own.
An Air Canada press release issued early Thursday morning stated the company had put forward a proposal to buy Transat A.T. Inc. for about $520 million, or $13 a share.
Transat A.T. Inc. is the parent company of vacation travel company Transat and the Air Transat airline.
According to a Transat press release, Air Canada’s proposed price of $13 a share is 47.8 per cent above the 20-day weighted average trading price for the company’s shares for the period ending May 15.
The two companies have now entered a 30-day period of exclusive talks to try and finalize a deal.
Any purchase agreement remains subject to confirmatory due diligence, regulatory and shareholder approvals and what Air Canada’s press release described as “other closing conditions usual in this type of transaction.”
Based in Montreal, Air Canada is Canada’s largest airline.
Transat A.T. Inc. is also based in Montreal and has about 5,000 employees.