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Transat AT Inc
Symbol TRZ
Shares Issued 37,727,573
Close 2019-07-08 C$ 12.53
Recent Sedar Documents

Transat A.T. suitor Mach clarifies superior proposal

2019-07-09 12:05 ET - News Release

An anonymous representative of Mach reports

MACH CLARIFIES TRANSAT'S REJECTION OF ITS SUPERIOR PROPOSAL

Contrary to recent media reports, Group Mach Inc. wishes to clarify that it never withdrew its superior amended proposal (as defined herein); instead, the board of directors of Transat A.T. Inc. rejected the said proposal by rendering it null and void upon entering into the arrangement agreement with Air Canada dated June 27, 2019, thus not respecting one of the conditions of Mach's amended proposal to the effect that Transat not sign a definitive acquisition agreement with Air Canada. As such, Mach's formal amended superior proposal to the attention of the board of directors of Transat dated June 25, 2019, to acquire all issued and outstanding voting shares of Transat at a price of $14 cash per share became null and void. Of note, notwithstanding that Mach's superior amended proposal was not conditional on financing and the expiration of the exclusivity period with Air Canada on June 26, 2019, the board of directors of Transat did not respond to Mach's amended proposal and decided instead to execute the arrangement agreement. Based on the foregoing, Mach will not submit a superior proposal as defined under the arrangement agreement.

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