TRZBF - TRZ Stock Dips As Company Receives Court Approval for Sale

Transat A.T. Inc. (TSX:TRZ) (OTC:TRZBF) has today received court approval on its sale to Air Canada (TSX:AC) (OTCQX:ACDVF), causing TRZ stock to dip slightly.

The international tour operator, based in Montreal, has been the subject of a scrap between Canada’s largest airliner and real estate company Groupe Mach. Earlier this month, Air Canada sweetened its offer for the firm by $200 million CAD to $720 million CAD. Groupe Mach had been trying to purchase a minority stake in Transat in order to block Air Canada’s acquisition, but this move was blocked by Quebec’s Tribunal administratif des ...