Analysis of information sources in references of the Wikipedia article "Air Transat" in English language version.
The exclusivity agreement also states that if Transat walks away from the deal for a better offer, it would pay Air Canada a $15 million break fee. In the event the agreement is terminated because regulatory or governmental approvals are not obtained, Air Canada would pay Transat a $40 million break fee.
Shareholders will have to weigh in and regulatory agencies will have a say, as the move would consolidate Canada's airline industry in even fewer hands.
Letko, Brosseau and Associates and PenderFund Capital Management, which jointly own a 22.06 per cent stake, have said they would vote against the agreement if the purchase price remained at $13 per share.
The deal, which would keep Transat's head office and key functions in Montreal, is expected to be completed early next year, subject to regulatory approval.
Air Transat: TSC, AIR TRANSAT
