CM - The Impact Of Air Canada's Offer On Aimia's Shareholders
On August 21st, 2018, Air Canada (OTCQX:ACDVF), together with a group that includes TD Bank (TD), CIBC (CM) and Visa Canada Corp (Air Canada and group) offered a deal to acquire the Aeroplan loyalty program from Aimia Inc (OTCPK:GAPFF). Aimia agreed to the deal to sell the Aeroplan loyalty program for $450 million in cash plus a liability of approximately $1.9 billion related to the Aeroplan program. The agreement was reached in principle, and the customary due diligence is currently taking place to conclude