Major Transat shareholder welcomes new Air Canada deal, but will wait to see if other bidders emerge: Transat AT Inc.'s largest shareholder called Air Canada’s reduced offer for the Montreal-based airline and travel company attractive but said he will wait to see whether another suitor comes forward before backing the revised bid. (Eric Atkins, Nicolas Van Praet)
How Air Canada’s CEO is using a common-sense hardball strategy to land the Transat deal at a bargain price: Calin Rovinescu is doing everything he can to steer clear of catastrophe as the lawyer-turned-chief-executive leads the airline through the COVID-19 crisis. Saturday’s announcement of Air Canada’s reworked takeover of Transat AT Inc. – an offer cut to $190-million from a prepandemic $720-million – is the latest example of Mr. Rovinescu’s deal-making skills, and willingness to use hardball tactics. (Andrew Willis)
Avenging the Avro Arrow: the audacious play to build an all-Canadian electric car: A new all-Canadian electric vehicle has the potential to help transform the country’s automotive sector, even if it never actually makes it to the road. On Tuesday, the Automotive Parts Manufacturers' Association announced the design for what it has branded Project Arrow – an effort to prove that a zero-emissions vehicle can be completely designed, engineered and built here. It’s now to proceed to the engineering stage, with the rollout of a full concept car targeted for 2022. (Adam Radwanski)
Scotiabank sells operations in Antigua and Barbuda to Eastern Caribbean Amalgamated Bank: The Bank of Nova Scotia has reached a deal to sell its operations in Antigua and Barbuda to a local bank, ending a standoff with the Antiguan government that scuttled a previous effort to sell the business. (James Bradshaw)
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