A Canadian real estate developer is attempting to derail Air Canada’s planned acquisition of Air Transat by making a more valuable offer for the leisure carrier’s parent company. Montreal-based Group Mach said June 4 it proposes to purchase Transat AT for C$14 ($10.43) per share, a C$527.6 million valuation. On May 16, Air Canada made an offer of C$13 per share, or C$520 million, for Transat, and the two companies entered exclusive 30-day negotiations. Group Mach said its offer ...

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