Transat shareholders OK $720 mln acquisition by Air Canada

Shareholders of Transat AT Inc (TSX: TRZ), a Montréal-based tour operator, have approved the company's proposed acquisition by Air Canada (TSX: AC) for $18 per share in cash. Air Canada, Canada's largest airline, amended the deal earlier this month. It is valued at about $720 million and expected to close early next year. Transat's largest shareholders include Fonds de solidarité FTQ and Caisse de dépôt et placement du Québec. Both voted in favour of the acquisition, according to a report by Reuters.

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