[ad_1]
Canadian tour operator Transat A.T. Inc. surged after disclosing it’s in talks “with more than one party” for a potential sale.
Shares of the Montreal-based company, which offers tours and airlines tickets to the Americas and Europe, climbed as much as 56 percent after a trading halt ended, the most on record. They were up 41 percent at 11:09 a.m. in Toronto, after falling 31 percent in the year through Monday’s close.
Ongoing “preliminary” discussions resulted from “expressions of interest” received by the company, Transat said in a statement Tuesday. A special committee of independent directors will evaluate the proposals, it said.
©2019 Bloomberg L.P.
This article was written by Sandrine Rastello from Bloomberg and was legally licensed through the NewsCred publisher network. Please direct all licensing questions to legal@newscred.com.
Photo Credit: An Air Transat aircraft sits at Toronto Pearson International Airport in Toronto. The airline is owned by Transat A.T. Inc., a tour operator that has begun talks to sell itself. Brent Lewin / Bloomberg
[ad_2]
Source link