Air Canada in talks to buy Transat for $520M

Air Canada has entered into talks to buy Montreal-based travel company Transat in a deal valued at $520 million, the company announced Thursday. Transat has agreed to a 30-day period of exclusive negotiations with Air Canada after the two sides entered into preliminary negotiations last month. The proposed deal will see Air Canada purchase all outstanding shares of Transat A.T. for $13 per share. Transat closed at $10.58 on the TSX Wednesday. Any deal will be “subject to confirmatory due d