AC and TRZ Agree to Terminate Arrangement

[boeingboy]

I doubt this is going to get approved by the Europeans....

[Splash]

I doubt this is going to get approved by the Europeans....

I think it will, with conditions attached. The question is, will AC accept those conditions?

[FL320]

I doubt this is going to get approved by the Europeans....

I think it will, with conditions attached. The question is, will AC accept those conditions?

Europe will approve the transaction as long as Garneau does. There is absolutely 0 chance that Europe prevent the transaction if it’s approved by Garneau. Conditions have already been requested to AC and they have fulfilled all the requests; they really want Transat. Again, it only depends on Garneau’s decision now; I think mid January all we be finalized. As rudder said, it’s time for both unions to work on our future (what they’ve already started I guess).

[FL-280]

(what they’ve already started I guess).

No not yet... waiting for the deal to be confirmed.

[FL320]

(what they’ve already started I guess).

No not yet... waiting for the deal to be confirmed.

Of course (official version).

[FL-280]

(what they’ve already started I guess).

No not yet... waiting for the deal to be confirmed.

Of course (official version).

Yeah for sure a few phone calls have been made or on the side meetings. Did we just agree on something?

[Localizer]

Yes little Timmy, miracles do happen!

Lol

[aerodude]

https://www.theglobeandmail.com/politi ... r-transat/

Quebec media baron Pierre-Karl Péladeau is urging the federal cabinet to deny Air Canada’s proposed takeover of Air Transat, offering to pay more for the struggling airline to guarantee competition and fairer prices for Canadian travellers.

The Globe and Mail has obtained three letters from Mr. Péladeau to Transport Minister Marc Garneau calling for a rejection of the merger, saying he will pay $6 a share or 20 per cent more than Air Canada to purchase Transat AT Inc., a Montreal-based airline and tour company.

I’ve been predicting this for months.
Some of the TRZ shareholders are even complaining of a lack of transparency during the vote as there was a bidder that was higher than AC.

Merge may still happen but politically it just doesn’t make sense.

[FL030]

He sounds like he thinks Garneau is going to approve it. The only hope this gets called off is if Europe says no.

[aerodude]

He sounds like he thinks Garneau is going to approve it. The only hope this gets called off is if Europe says no.

If that’s what you interpret, I’m putting the probability of a merge at around 50% now. I was 90% a few weeks ago. Its a political win for the liberals if TRZ is handed to Quebecor.

[TT1900]

The feds should approve it just to spite that separatist scumbag. Also love how he's making this offer banking on a bailout.

[tsgas]

The feds should approve it just to spite that separatist scumbag. Also love how he's making this offer banking on a bailout.

A bailout and/or a nice tax write off.

[FL030]

I don't know, do you write 3 letters to someone asking them not to do something if you don't think they're going to do it? He seems desperate.

[aerodude]

I don't know, do you write 3 letters to someone asking them not to do something if you don't think they're going to do it? He seems desperate.

The TRZ board did reject a offer that was superior to AC. I sort of figured PkP wanted in. He is not going to stop now since he knows the public sentiment is anti-airline right now.
He could pull it off given the current goverment salivating on public sentiment.

[Localizer]

The TRZ board did reject a offer that was superior to AC. I sort of figured PkP wanted in. He is not going to stop now since he knows the public sentiment is anti-airline right now.
He could pull it off given the current goverment salivating on public sentiment.

I’m sorry ... Superior??? How would you consider his bid superior to AC’s offer? They have no experience in the industry and the conversions offer more long term gain for investors.

[milhouse]

I don't know, do you write 3 letters to someone asking them not to do something if you don't think they're going to do it? He seems desperate.

The TRZ board did reject a offer that was superior to AC. I sort of figured PkP wanted in. He is not going to stop now since he knows the public sentiment is anti-airline right now.
He could pull it off given the current goverment salivating on public sentiment.

Wasn't a superior offer though. With the option to convert TRZ shares into AC shares, the AC deal works out to about 6.53$ per share at today's valuation. Over 7$ when the vote actually took place.

[Thorjones]

I think almost every AC pilot is now cheering for this Quebec nationalist

[North Shore]

Best comment so far I've seen came from the Globe and Mail comments this morning....something along the lines of believing that a cable TV owner wants to ensure competitive pricing and consumer options...

[FL030]

Sounds like Garneau is getting replaced tomorrow. Pierre wasted his ink.

[Localizer]

Interesting development ... Garneau is out.

What does that mean for the transaction (delay tactic?), what does that mean/signal about industry specific support?

We have to be optimistic .. maybe?

[Tdicommuter]

Lol. Kinda funny TRZ board took the time to clarify that Peladeau is not telling the truth.

Flightglobal: Transat rejects takeover bid from billionaire investor | News | Flight Global.
https://www.flightglobal.com/strategy/t ... 32.article

[nowind]

TRZ stock trading under 5$, what's up with that?

[Curiousflyer]

TRZ stock trading under 5$, what's up with that?

The stock has been on a steady decline since mid December, likely due to the Canadian governments delay in approving the deal. It’s become political now and I don’t think Canada will come out with a decision until the Europeans do, which puts strain on whether or not this deal will get approved by regulators or not.

[Localizer]

Interesting article in this mornings globe and mail.

Sunwing believes the AC/AT deal is good for the industry.

https://www.theglobeandmail.com/busines ... RDHkm-9HjE

[rudder]

Interesting article in this mornings globe and mail.

Sunwing believes the AC/AT deal is good for the industry.

https://www.theglobeandmail.com/busines ... RDHkm-9HjE

Hunter knows that AC will rationalize capacity post merger.

TATL capacity changes are of no consequence to SWG. Sun destination capacity changes are.

SWG is probably banking on the likelihood that ACV and Transat Travel will also rationalize capacity in the packaged vacation market which is actually the core SWG business.