A PYMNTS Company

Canada: Air Canada/Transat buy needs more scrutiny says minister

By  |  August 27, 2019

Air Canada’s planned acquisition of Transat raises issues of public interest and will require additional scrutiny, including the impact on airline competition, before it can be approved, Canada’s transport minister said on Monday, August 26. 

Transat shareholders overwhelmingly voted last week in favor of Air Canada’s CAN$720 million (US$542 million) or CAN$18-a-share bid for the tour operator. 

Transport Minister Marc Garneau said in a news release issued after the market close that a public interest assessment would be conducted on the deal with input from Canada’s competition commissioner. 

Consultations will begin on November 4 and involve the air industry and public, among others, as well as an “analysis of the economic benefits or challenges resulting from the proposed transaction,” he said.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.