Corporation Transat A. T. Inc. reaffirmed its recommendation to shareholders to support the takeover offer from Air Canada after Pierre Karl Pelado (Pierre Karl Peladeau) has signaled that it is prepared to make an offer.
The travel company said that they had not received offers from Pelado or any of its business partners to acquire Transat.
On Friday the scheduled shareholder vote on the proposal Transat Air Canada, intentional to pay the $18 per share. The company said that currently they have no other alternatives.
Monday Pelado, who said he owns about 1.6% of the shares of the parent company of Air Transat, said it plans to vote against the proposal Air Canada, because it is “contrary to the public interest”.
Businessman and former politician said that he “gathered around him a strong and credible partner with international reputation” to offer a reasonable price, which, however, was not called.
The largest shareholder of Transat with a share of 19.3%, an investment firm Letko, Brosseau and Associates, stated that it will now support the proposal of Air Canada, after rejecting it earlier, when the rate was $13 per share.