Air Canada and Air Transat Terminate Acquisition
Air Canada’s acquisition of Air Transat has been in the works for almost 2 years. After all the hurdles that they had to go through to get to this point, only to end in a cancellation of the buyout.
The agreement required various regulatory authority approvals. It got stuck at the European Commission (“EC”). In short, the EC will not approve the acquisition for several reasons including negatively impacting customers.