AC offer AT $13 per share

[Goldencondor]

AT will not have to pay the breaking clause since in the fine print it stated if someone else came with an offer of more than 1$/share of what AC offered and that AC doesn’t match they are off the hook. Plus it’s not only 14$/share. It’s close to a billion dollars offer in value as they offered to swipe some debt as well in the deal.

My 2 cents is either CR really wants AT and will offer more or this was a timing move to delay an acquisition by ONEX forcing other players in quebec to pitch in. Both an AC deal or Mach deal is good for AT business, but its definitively 2 different routes. One is better for the airline part the other better for the tour operator part.

Mach offer seems to be conditional of a 120M$ loan from Qc government, and they admitted that the return on investment will take a while hence maybe hinting on privatizing AT in the short term. At least until it finalizes the hotel expansion.