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Transat A.T. Inc., announced that the Tribunal administratif des marchés financiers (Québec) has accepted by way of a majority decision, with immediate effect, Transat’s application to cease the offer made by Groupe Mach Acquisition Inc. (“Mach”) on Aug. 2, 2019 to acquire 6.9 million Class B voting shares of Transat.
As a result, Mach is not allowed to acquire any shares under its scheme and is expected to return promptly to shareholders any shares already deposited by them to Mach under its scheme. Mach is also forbidden from using any proxies associated with shares deposited under the scheme.