The press release issued by the Groupe Mach this morning clearly mentions that this private company, which works in the field of real estate asset management, approached the management of Transat AT as early as January 2019 in order to make its acquisition.
Transat’s management did not matter to present the offer to shareholders on April 30, and it prefers to negotiate with Air Canada. Clearly, there is something in Groupe Mach offer or its approach that did not suit the management of Transat A.T.
The devil is in the details, and as long as we do not know the final result of the negotiations between Air Canada and Transat A.T., it is impossible to compare the two offers and see which is the best. In its press release, the Groupe Mach does not hesitate to mention that she is a Quebec’s company to raise the patriotic fervor to its advantage.
Before jumping into the arms of Grouped Mach simply out of patriotism, it is a good advice to wait for Air Canada’s offer in detail and mostly to see why the management of Transat AT did not respond to the Groupe Mach offer.
The fact that the Groupe Mach failed to convince Transat A.T.’s management to join its offer raises questions as to its ability to complete this transaction. Groupe Mach may say that it intends to leave the management team intact, it will be impossible to retain members of leadership team by force.
The Mach Group has chosen to make public its offer because its goal to get hold of Transat A.T. is failing. This morning’s press release is a last-ditch attempt.>>> Follow us on Facebook and Twitter