Quebec real estate developer Group Mach makes formal bid for Transat

Real estate developer Group Mach Inc. said on Friday it had formally tabled an offer for Transat AT Inc. that was higher than Air Canada’s earlier bid for the Canadian travel operator.

Mach is hoping to expand in the leisure and hospitality business with the Transat deal, using its own expertise in the ongoing development of Transat’s hotel chains. Mach said earlier this month it would take Transat private at $14 per share in cash, $1 more than Air Canada’s all-cash offer that valued the parent company of leisure carrier Air Transat at $520-million.In May, Air Canada said it was in exclusive talks to buy Transat, as it looks to boost its leisure travel business to ward off growing competition from WestJet Airlines.Transat was not immediately available for comment.

Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening.

globebusiness Oh no, if this company is sold to someone in Quebec, we all know a massive Liberal approved Canadian taxpayer subsidy will come there way. Hopefully someone in the prairies will buy it, no chance of Trudeau cutting a cheque to subsidize them.

globebusiness Just don't let Air Canada take control

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Senate group urges Ottawa to invest in Arctic as climate change threatens northern infrastructure, sovereignty claimsReport from the Special Senate Committee on the Arctic states warming in the region is melting permafrost, threatening roads, housing and community facilities globepolitics Please update your pictures, Canada Coast Guard doesn’t use any more those helicopters globepolitics How sad thousands of Canadian acres might soon be put to the plough a month earlier & could feed extra millions abroad & it might be the same in Russia. Global warming is a bad thing. Fools look at the geographical landmass. Warmth is beneficial in North & deep South
Source: globeandmail - 🏆 5. / 92 Read more »

'Troubling': Home prices nearly double what Canadian millennials can afford, says reportCanadian millennials would need to see typical annual earnings climb to $93,400 or average home prices drop by $223,000 to achieve housing affordability, according to a new report by a non-profit group called Generation Squeeze. The price of exploding globalism & population growth encouraged by the Trudeau government Maybe if they worked hard like their ancestors did instead of wasting their existence by protesting everything under the sun, they could afford homes. Then rent or make more money. Problem solved.
Source: CTVNews - 🏆 1. / 99 Read more »