Transat A.T. In Preliminary Acquisition Talks

Transat A.T says that it is in preliminary discussions with more than one party concerning a potential transaction involving the acquisition of the Corporation.

In a statement posted on its web site, the company said that these discussions result from expressions of interest received by the Corporation.

As a result, the Corporation has formed a special committee of independent directors to evaluate the proposals with the assistance of financial and legal advisors, consider, and if deemed advisable, undertake a process for the formal review of strategic alternatives, consider any alternative proposal, and make recommendations to the Board of Directors in the best interests of the Corporation and all its stakeholders.

And it states that “This situation has no impact on the clients or employees of Transat, nor on its operations, which are continuing as usual.”

The statement continues: “The discussions are at a preliminary stage. No decision has been made as to any potential transaction. There can be no assurance that any transaction will take place. The Corporation does not intend to provide further updates or comments with respect to the foregoing except as required by law.”

Go to www.transat.com for more.