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Letko, Brosseau & Associates Inc., an independent investment manager that exercises investment control or direction over approximately 19.3 per cent of all the issued and outstanding shares of Transat A.T. Inc. and is the company’s largest shareholder, reaffirmed its support of the proposed acquisition of Transat by Air Canada as it believes that the increased price of $18 per share represents a fair price for Transat shares.
Pursuant to a support and voting agreement entered into with Air Canada, Letko Brosseau confirmed that it has voted all the Transat shares it is entitled to vote in favour of the arrangement.
Letko, Brosseau & Associates Inc. is a Canadian independent investment manager founded in 1987. As of July 31, 2019, the firm manages approximately $28 billion in assets for institutional investors and private clients. It has offices in Montreal, Toronto and Calgary.
