Montreal’s Transat A.T. Inc. is evaluating multiple takeover offers and has formed a special committee to weigh the merits of an acquisition.
The company, which sells vacation packages and operates a travel airline, disclosed the takeover approaches on Tuesday morning. Transat currently employs around 5,000 people, and it had a market value of $222-million at the close of trading on Monday. In a statement, Transat said it is in “preliminary discussions with more than one party,” but added that “no decision has been made as to any potential transaction.”Transat’s share price has fallen sharply since the start of 2018, when it was trading around $11. Before the market opened on Tuesday its shares were worth $5.67 apiece.
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