The Chairman of the Mach Group has confirmed that he will not participate in a bid for the acquisition of Transat A.T. and withdraws his offer at $ 14 per share, thereby ending speculation on the value of Transat A.T share.
Transat A.T. stock as raised as soon as it was announced that the company had received more than one offer from two groups, from $ 5.60 on April 29 to 14.19. $ last week. Clearly, speculators have bet on a bidding war between Air Canada and the Mach Group for the acquisition of Transat A.T.
Since the Mach Group is withdrawing Air Canada remains the only buyer in the process of acquiring Transat AT The withdrawal of the Mach Group caused the share of Transat A.T. to drop which is now trading around 12, $ 50 leaving the speculators on their appetite.>>> Follow us on Facebook and Twitter