Air Canada announces preliminary results of $500 million substantial issuer bid
Source: Air Canada Air Canada has announced the preliminary results of the now expired substantial issuer bid (the "Offer") to purchase for cancellation up to $500 million of its Class A Variable Voting Shares and Class B Voting Shares (collectively, the "Shares") at a purchase price of not less than $18.50 and not more than $21.00 per Share. Air Canada expects to take up and pay for 26,595,744 Shares at a price of $18.80 per Share under the Offer, representing an aggregate purchase price of about $500,000,000 and about 8.24% of the total number of Air Canada's issued and outstanding Shares as of June 20, 2025 and before giving effect to the Offer. In response to the Offer, 26,823,988 Shares were validly [...]