AC and TRZ Agree to Terminate Arrangement
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
AT could fail before any of this even has the chance to go through. We're still looking at 2 more months before the gvn't gives it's result, and I'm sure it's the last thing on their mind right now.
Now... I could see the gvn't doing something like they did with Canadian and AC, force AC take on AT like they did Canadian and in exchange for a big bail out or something and promises that they can keep all their slots. This would go over well with QC for the next election and people keeping their jobs.
Now... I could see the gvn't doing something like they did with Canadian and AC, force AC take on AT like they did Canadian and in exchange for a big bail out or something and promises that they can keep all their slots. This would go over well with QC for the next election and people keeping their jobs.
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
The competition bureau report is actually due out in a week. March 23rd. AC and AT have not been allowed to communicate with each other about this deal until that report is released. Even the AT CEO has said he expects this report to be negative. All of this was reported by the Financial Post but we all know how unreliable journalism is. I expect though that if the above is true the negative report will give AC an excuse to either renegotiate or walk away from the deal entirely.
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
I strongly suggest you to buy TRZ shares asap...derateNO wrote: ↑Mon Mar 16, 2020 6:42 pm AT could fail before any of this even has the chance to go through. We're still looking at 2 more months before the gvn't gives it's result, and I'm sure it's the last thing on their mind right now.
Now... I could see the gvn't doing something like they did with Canadian and AC, force AC take on AT like they did Canadian and in exchange for a big bail out or something and promises that they can keep all their slots. This would go over well with QC for the next election and people keeping their jobs.
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
Be prepared for wage concessions.FL320 wrote: ↑Mon Mar 16, 2020 7:44 pmI strongly suggest you to buy TRZ shares asap...derateNO wrote: ↑Mon Mar 16, 2020 6:42 pm AT could fail before any of this even has the chance to go through. We're still looking at 2 more months before the gvn't gives it's result, and I'm sure it's the last thing on their mind right now.
Now... I could see the gvn't doing something like they did with Canadian and AC, force AC take on AT like they did Canadian and in exchange for a big bail out or something and promises that they can keep all their slots. This would go over well with QC for the next election and people keeping their jobs.
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
LOL.
If after all this shit of dealing with lowest paid positions in the industry AND CR tries taking more?
I'm fucking done.
I'll going back to hooking at Hastings and Main.
If after all this shit of dealing with lowest paid positions in the industry AND CR tries taking more?
I'm fucking done.
I'll going back to hooking at Hastings and Main.
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
Yes but I will soon gain 10 years pre-retirementtsgas wrote: ↑Mon Mar 16, 2020 7:55 pmBe prepared for wage concessions.FL320 wrote: ↑Mon Mar 16, 2020 7:44 pmI strongly suggest you to buy TRZ shares asap...derateNO wrote: ↑Mon Mar 16, 2020 6:42 pm AT could fail before any of this even has the chance to go through. We're still looking at 2 more months before the gvn't gives it's result, and I'm sure it's the last thing on their mind right now.
Now... I could see the gvn't doing something like they did with Canadian and AC, force AC take on AT like they did Canadian and in exchange for a big bail out or something and promises that they can keep all their slots. This would go over well with QC for the next election and people keeping their jobs.
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
Was that you?
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
Daddy?
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
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Last edited by TSAM on Wed Apr 08, 2020 3:50 pm, edited 1 time in total.
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
I cannot find a specific reference to an MAC clause (Material Adverse Condition) for AC in the information issued by AC in June 2019 related to the original purchase agreement.
However, it is clear that the consummation of the deal is subject to regulatory approval. If the CT finds excess market concentration and orders route divestiture or consolidated capacity limitations that may be a valid reason for AC to void the offer.
However, it is clear that the consummation of the deal is subject to regulatory approval. If the CT finds excess market concentration and orders route divestiture or consolidated capacity limitations that may be a valid reason for AC to void the offer.
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
The Competition Bureau report will only contain facts, that report is then taken by Transport Canada who will produce a report with recommendations and hand it to the Minister of Transport who in turn will issue his recommendations on the transaction. In the end Garneau will have the last word regardless of what any of the reports contain.
Analysts are still favourable to the transaction and lawyers still say the the Adverse Material Effects have not been met. That makes me think we are still heading towards the deal closing.
Analysts are still favourable to the transaction and lawyers still say the the Adverse Material Effects have not been met. That makes me think we are still heading towards the deal closing.
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
Keep hoping there bud.... TRZ was under 6$ this morning
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
It does not mean anything except that it's another incredible short term opportunity for investment! Thank you AC! (happy DerateNo?)
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
AC went down to $15.51, still doesn't meet the definition of adverse material effect from what I was told. Nothing we say on here will change anything but carry on with whatever makes you feel better.
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
A Material Adverse Effect caused by an industry downturn has to hit Transat disproportionately in order to trigger the Material Adverse Effect clause in the Arrangement Agreement from June 27, 2019. If AC wants out of the deal it will have to be in some other way. Curiously, if you go back 3 months to before coronavirus was in the news, AC and TRZ have fallen almost exactly the same amount (63%). US airlines have been doing massive share buybacks over the last 10 years, leaving them with little cash to weather a downturn. Last year US Airline CEOs were explaining to their shareholders that this is a great move since it's not possible for big airlines to lose money anymore. In the meantime, AC has piled up over 7 billion in cash and Transat over half a billion."Material Adverse Effect" means any change, event, occurrence, effect, state of facts and/or circumstance that, individually or in the aggregate with other such changes, events, occurrences, effects, states of facts or circumstances is or would reasonably be expected to be material and adverse to the business, operations, results of operations, assets, properties, financial condition, liabilities (contingent or otherwise) of the Corporation and its Subsidiaries, taken as a whole, except any such change, event, occurrence, effect, state of facts or circumstance resulting from or arising in connection with:
(a) any change, event, occurrence, effect, state of facts or circumstance affecting
generally the airline industry or the segments of the travel, hotel and tourism
industries in which the Corporation and its Subsidiaries operate;
but, in the case of clauses (a) through to and including (e) above, only to the extent that any
such change, event, occurrence, effect, state of facts or circumstances does not have a
materially disproportionate effect on the Corporation and its Subsidiaries, taken as a whole,
relative to other entities operating in the airline industry or the segments of the travel, hotel
and tourism industries in which the Corporation and its Subsidiaries operate; and references
in certain sections of this Agreement to dollar amounts are not intended to be, and shall not
be deemed to be, illustrative or interpretative for purposes of determining whether a Material
Adverse Effect has occurred.
In any case, TRZ shares are a big gamble right now, with a huge potential win or loss. I certainly wouldn't buy shares without having read the Agreement and watching the news very closely. You'll probably still be blindsided by the insiders but at least you did what you could.
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
Statements full of facts and devoid of irrational emotional ramblings are not well received around here. Brace for some irrational emotional rambling.ahramin wrote: ↑Tue Mar 17, 2020 11:22 amA Material Adverse Effect caused by an industry downturn has to hit Transat disproportionately in order to trigger the Material Adverse Effect clause in the Arrangement Agreement from June 27, 2019. If AC wants out of the deal it will have to be in some other way. Curiously, if you go back 3 months to before coronavirus was in the news, AC and TRZ have fallen almost exactly the same amount (63%). US airlines have been doing massive share buybacks over the last 10 years, leaving them with little cash to weather a downturn. Last year US Airline CEOs were explaining to their shareholders that this is a great move since it's not possible for big airlines to lose money anymore. In the meantime, AC has piled up over 7 billion in cash and Transat over half a billion."Material Adverse Effect" means any change, event, occurrence, effect, state of facts and/or circumstance that, individually or in the aggregate with other such changes, events, occurrences, effects, states of facts or circumstances is or would reasonably be expected to be material and adverse to the business, operations, results of operations, assets, properties, financial condition, liabilities (contingent or otherwise) of the Corporation and its Subsidiaries, taken as a whole, except any such change, event, occurrence, effect, state of facts or circumstance resulting from or arising in connection with:
(a) any change, event, occurrence, effect, state of facts or circumstance affecting
generally the airline industry or the segments of the travel, hotel and tourism
industries in which the Corporation and its Subsidiaries operate;
but, in the case of clauses (a) through to and including (e) above, only to the extent that any
such change, event, occurrence, effect, state of facts or circumstances does not have a
materially disproportionate effect on the Corporation and its Subsidiaries, taken as a whole,
relative to other entities operating in the airline industry or the segments of the travel, hotel
and tourism industries in which the Corporation and its Subsidiaries operate; and references
in certain sections of this Agreement to dollar amounts are not intended to be, and shall not
be deemed to be, illustrative or interpretative for purposes of determining whether a Material
Adverse Effect has occurred.
In any case, TRZ shares are a big gamble right now, with a huge potential win or loss. I certainly wouldn't buy shares without having read the Agreement and watching the news very closely. You'll probably still be blindsided by the insiders but at least you did what you could.
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
Man, Here is the deal. At the end of the day AC will do what AC WANTS TO DO.... you guys are like “we don’t want this as much as you guys don’t” Clearly not... you wouldn’t be stating fine prints of the if not.
I believe you guys are holding on to the last hope of sustainability in your careers as hard as you can. When the last hope relies on another company buying yours, it says a lot about your career choices.
Best of luck
I believe you guys are holding on to the last hope of sustainability in your careers as hard as you can. When the last hope relies on another company buying yours, it says a lot about your career choices.
Best of luck
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
I for one enjoy a back and forth troll fest from time to time.
This isn’t that time. Lots of pilots are going to feel some real hurt. Of course they are afraid. I’m afraid. We all should be.
Let’s hope for the best. If the deal goes through it’ll be a good thing that a bunch of pilots didn’t lose their jobs.
Good luck to all.
This isn’t that time. Lots of pilots are going to feel some real hurt. Of course they are afraid. I’m afraid. We all should be.
Let’s hope for the best. If the deal goes through it’ll be a good thing that a bunch of pilots didn’t lose their jobs.
Good luck to all.
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
You are lumping everyone into the same basket and that says a lot about you. You are right that AC will do what they want, I don't think anyone is disputing that. Will they have to pay the 40 million penalty is the whole point of the adverse material effect discussion. The quote about the press release was very misleading as it was in the standard warning at the end. Nothing wrong with setting the facts straight.FL-280 wrote: ↑Tue Mar 17, 2020 12:02 pm Man, Here is the deal. At the end of the day AC will do what AC WANTS TO DO.... you guys are like “we don’t want this as much as you guys don’t” Clearly not... you wouldn’t be stating fine prints of the if not.
I believe you guys are holding on to the last hope of sustainability in your careers as hard as you can. When the last hope relies on another company buying yours, it says a lot about your career choices.
Best of luck
TS pilots are in the process of voting on a LOU that will prevent layoffs for the next two months if it is ratified. Our group has seen many layoffs over the years and the company has been very resilient thought the many crisis it has survived. We are hoping for the best for us and all other pilot groups affected.
BTW,I stand by every carrier choice I have ever made, good or bad. 23 years and counting and I enjoy it more than ever.