Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Air Canada (TSX:AC) will face an additional level of government scrutiny as it seeks to acquire Transat (TSX:TRZ), delaying the deal by as much as nine months.
The Ministry of Transport said on Aug. 26 that the C$720 million (a Canadian dollar equals US$0.76) acquisition "raises public interest issues related to national transportation" will be subject to additional review to assess the effects on competition.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The review begins on Nov. 4 and could last up to 250 days — to May 2020. The timing means that any decision about Canada's largest airline acquiring the parent company of the country's No. 3 carrier will come long after October's federal elections.
The federal government's announcement came days after Transat's shareholders approved a newly sweetened offer by Air Canada to fight off a rival bid.
Transat also offers cargo services, which accounted for a portion of the C$135 million it recorded as "other" revenue in 2018. While small, Transat's cargo business could be a welcome addition to Air Canada, which has seen its air freight revenues sag amid trade disputes.
Regulators are likely to focus on the implications for the passenger market. Canada has among the highest air travel costs in the world, and the Transat purchase would consolidate the market for flights between Canada and popular vacation spots, particularly in the Caribbean.
Image Sourced from Pixabay
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.