AC and TRZ Agree to Terminate Arrangement

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Fanblade
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by Fanblade »

Jean-Luc Monette wrote: Tue Sep 29, 2020 10:30 am Transport Canada’s report is still on Minister Garneau’s desk, and the EU Competition Board (or whatever name...) are still evaluating the dossier.

How can the offer not be extended?
Because someone may want to take the first legal opportunity, to leverage an adjustment, or walk away.

Both companies have a duty to their shareholders. They won’t and can’t just leave them hanging. Yet they are. The only reason for not publicly announcing an extension is that the extension is currently in limbo. That there is nothing to disclose either way. That ongoing discussions are taking place.

The reasons for that limbo status, or any possible alterations, must be kept behind closed doors for securities reasons. When a definitive outcome has been reached it has to announced to the public all at once.

It is possible that the definitive outcome will simply be an extension. It is also possible that the definitive outcome is something else.
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rudder
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by rudder »

Transat website now says Outside Date extended to October 27th.

https://www.transat.com/en-CA/corporate ... -investors
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altiplano
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by altiplano »

rudder wrote: Tue Sep 29, 2020 12:43 pm Transat website now says Outside Date extended to October 27th.

https://www.transat.com/en-CA/corporate ... -investors
Interesting that it's one line of text on the website, not a press release for the announcement, and nothing from AC that I can see on the investor or media site.

I wonder if that was put up prematurely? I'm not sure of the OSC disclosure requirements on this, but given that it's a fundamental restriction on the deal I would imagine something more. Also previous extensions had press releases. Maybe we'll see something tomorrow?
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aerodude
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by aerodude »

AC just officially closed the deal. 5$/share. To be concluded soon. :smt040
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drone_driver24
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by drone_driver24 »

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Sharklasers
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by Sharklasers »

aerodude wrote: Sat Oct 10, 2020 9:21 am AC just officially closed the deal. 5$/share. To be concluded soon. :smt040
The deal is far from closed.
Still subject to regulatory approval and another shareholder vote at the new price.
Then the real fun begins, BOTL for the TRZ pilots seems really fair now.
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Dry Guy
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by Dry Guy »

"We believe that revised terms will provide the parties with greater incentives to address the concerns raised by regulatory agencies in order to obtain the regulatory approvals, including with respect to the offer of remedies which should provide a greater chance of obtaining the required approvals from regulatory authorities prior to the newly extended date of February 15, 2021 ," said Mr. Leblanc

Basically now that it's 75% off Air Canada might actually try to satisfy the regulatory bodies that have to approve the deal.
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altiplano
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by altiplano »

$5.

Transat shareholders are taking a haircut here... AC shareholders too if they fill the shares for the share swap options. The big AT shareholders like Letko didn't like $14 before and it will be interesting to see how they vote this... Letko has significant AC pairings too though and fear is clearly in the drivers seat, I'll be interested to hear what the Transat CEO recommendation states. Plenty of fear that AT is going to flop if the deal doesn't go ahead no doubt. he just wants to walk at this point. Probably will get an AC BOD appointment for himself out of it.

Rovinescu is a shark.
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Sharklasers
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by Sharklasers »

Letko is all but completely divested from TRZ and has been for months. Friday at the bell they owned 203000 shares of TRZ or about .54% of the total outstanding shares.
https://www.morningstar.ca/ca/report/st ... 0P00005TH4
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TFTMB heavy
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by TFTMB heavy »

altiplano wrote: Sat Oct 10, 2020 9:40 am $5.

Transat shareholders are taking a haircut here... AC shareholders too if they fill the shares for the share swap options. The big AT shareholders like Letko didn't like $14 before and it will be interesting to see how they vote this... Letko has significant AC pairings too though and fear is clearly in the drivers seat, I'll be interested to hear what the Transat CEO recommendation states. Plenty of fear that AT is going to flop if the deal doesn't go ahead no doubt. he just wants to walk at this point. Probably will get an AC BOD appointment for himself out of it.

Rovinescu is a shark.
JME is in favour, he told me himself in an email.
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Thorjones
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by Thorjones »

why can't this deal just die already
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rudder
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by rudder »

CR has never let a good crisis go to waste.

A $250MM price tag that will be partially satisfied by a stock swap. Brilliant.

The terms and price of this deal will make AC a very motivated purchaser.

Can’t wait to hear what the business plan will be. I wonder how flexible ACPA will be?
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RippleRock
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by RippleRock »

rudder wrote: Sat Oct 10, 2020 10:39 am CR has never let a good crisis go to waste.

A $250MM price tag that will be partially satisfied by a stock swap. Brilliant.

The terms and price of this deal will make AC a very motivated purchaser.

Can’t wait to hear what the business plan will be. I wonder how flexible ACPA will be?
How flexible ACPA will be?? With who?

We know who they represent.
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altiplano
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by altiplano »

TFTMB heavy wrote: Sat Oct 10, 2020 9:53 am
altiplano wrote: Sat Oct 10, 2020 9:40 am $5.

Transat shareholders are taking a haircut here... AC shareholders too if they fill the shares for the share swap options. The big AT shareholders like Letko didn't like $14 before and it will be interesting to see how they vote this... Letko has significant AC pairings too though and fear is clearly in the drivers seat, I'll be interested to hear what the Transat CEO recommendation states. Plenty of fear that AT is going to flop if the deal doesn't go ahead no doubt. he just wants to walk at this point. Probably will get an AC BOD appointment for himself out of it.

Rovinescu is a shark.
JME is in favour, he told me himself in an email.
Of course he is, and I read his statement in the press release, I'm just wondering what else he will tell the shareholders that were holding out for $18?
Sharklasers wrote: Sat Oct 10, 2020 9:51 am Letko is all but completely divested from TRZ and has been for months. Friday at the bell they owned 203000 shares of TRZ or about .54% of the total outstanding shares.
https://www.morningstar.ca/ca/report/st ... 0P00005TH4
Noted. Who are the largest share holders presently?
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altiplano
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by altiplano »

RippleRock wrote: Sat Oct 10, 2020 10:43 am
rudder wrote: Sat Oct 10, 2020 10:39 am CR has never let a good crisis go to waste.

A $250MM price tag that will be partially satisfied by a stock swap. Brilliant.

The terms and price of this deal will make AC a very motivated purchaser.

Can’t wait to hear what the business plan will be. I wonder how flexible ACPA will be?
How flexible ACPA will be?? With who?

We know who they represent.
ACPA has already given the corp all the flexibility they need with the recent MOA... AC Pilot Scope essentially suspended will make for an easy integration as far is the company is concerned... ACPA will get fucked come spring though.
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rudder
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by rudder »

RippleRock wrote: Sat Oct 10, 2020 10:43 am
How flexible ACPA will be?? With who?
With their employer.
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GATRKGA
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by GATRKGA »

altiplano wrote: Sat Oct 10, 2020 10:46 am
RippleRock wrote: Sat Oct 10, 2020 10:43 am
rudder wrote: Sat Oct 10, 2020 10:39 am CR has never let a good crisis go to waste.

A $250MM price tag that will be partially satisfied by a stock swap. Brilliant.

The terms and price of this deal will make AC a very motivated purchaser.

Can’t wait to hear what the business plan will be. I wonder how flexible ACPA will be?
How flexible ACPA will be?? With who?

We know who they represent.
ACPA has already given the corp all the flexibility they need with the recent MOA... AC Pilot Scope essentially suspended will make for an easy integration as far is the company is concerned... ACPA will get fucked come spring though.
Whoever were the geniuses who voted in favour of the MOA cause of Transat deal being dead are the exact same geniuses talking about BOTL. Lol, Recalls will be fun.

Just don’t forget one thing, after all the dicks are done swinging at each other, Everyone will be back whining about crew sched and how their schedule sucks.

The only people that win in this transaction are the shareholders.

Can we get unity in this merger or will it be a @#$! you mentality?

I hope both sides play ball and can be grateful. Otherwise Calin will present another fearful tactic, and all of us will vote in favour of a short sighted let that just like MOA 2, will push the working conditions backwards even further.

It’s moments like these which make me wonder where FL280 stands on his superior choice in employers.

Bottom of the list won’t happen. That’s a pipe dream.

Good luck guys!
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Fanblade
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by Fanblade »

Well looks like they were negotiating something at the end of September. Now we know what.
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rudder
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by rudder »

I wonder what year the merged AC/TS will recall the junior surplus pilot? 2023? 2024?

I see capacity at 50% for summer 2021 and if lucky back to 80% by summer 2022.
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RippleRock
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by RippleRock »

rudder wrote: Sat Oct 10, 2020 11:00 am
RippleRock wrote: Sat Oct 10, 2020 10:43 am
How flexible ACPA will be?? With who?
With their employer.
Rudder, you are a smart individual.

You know as well as I do the ACPA is merely another division of Flt Ops Management.
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rudder
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by rudder »

RippleRock wrote: Sat Oct 10, 2020 12:00 pm
rudder wrote: Sat Oct 10, 2020 11:00 am
RippleRock wrote: Sat Oct 10, 2020 10:43 am
How flexible ACPA will be?? With who?
With their employer.
Rudder, you are a smart individual.

You know as well as I do the ACPA is merely another division of Flt Ops Management.
This merger has the potential to be light years more complicated than the AC/CDN merger.

In the previous merger, it was a given that the result would be one airline and one operating certificate. AC hasn’t even said (publicly) how they see this merger playing out operationally.

This would have been a contentious conversation even under the best of times. Now it will happen in a COVID impacted economy. And I am not talking about seniority integration.

How many airlines? How many operating certificates? How many paint jobs?

The good news is there will be just one list (unless CR has a trick up his sleeve).
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aerodude
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by aerodude »

-layoff 20,000 workers
-ask remaining air canada pilots for a paycut.
-buy another airline right after the MOA is signed for pennies on the dollar.

AC management deserve every dollar in bonus when all this is done! Never let a good crisis go to waste.
This will be a great case study in future MBA classes. :prayer:
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FL320
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by FL320 »

So predictable :D
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planebored
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by planebored »

The deal isn't done yet. It's only an amended price per share which will need to be approved by the shareholders.
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planebored
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by planebored »

The deal isn't done yet. It's only an amended price per share which will need to be approved by the shareholders.
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