Travel Company Transat Surges After Disclosing Talks on Sale

(Bloomberg) -- Canadian tour operator Transat A.T. Inc. surged after disclosing it’s in talks “with more than one party” for a potential sale.

Shares of the Montreal-based company, which offers tours and airlines tickets to the Americas and Europe, climbed as much as 56 percent after a trading halt ended, the most on record. They were up 41 percent at 11:09 a.m. in Toronto, after falling 31 percent in the year through Monday’s close.

Travel Company Transat Surges After Disclosing Talks on Sale

Ongoing “preliminary” discussions resulted from “expressions of interest” received by the company, Transat said in a statement Tuesday. A special committee of independent directors will evaluate the proposals, it said.

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