Transat A.T. Inc., the parent firm of Air Transat (TS, Montréal Trudeau), has announced in a stock market filing that the Superior Court of Quebec has approved the takeover of the company by Air Canada (AC, Montréal Trudeau).
The court approval concerns only the legality of the takeover as such and does not amount to a final go-ahead for the plan. A public interest assessment regarding the takeover is being undertaken by Transport Canada with input from the Commissioner of Competition, among other regulatory proceedings related to the deal.
Transat A.T. said that it expects to complete the transaction by the second quarter of 2020.
