Chorus said there's no assurance a transaction will occur and said it doesn't intend to comment further unless there is a deal to announce. Facebook. The company said it would not comment further “unless or until there is a transaction to announce.”. The move was meant to prevent someone from quietly buying up stock on the cheap. New hopes for the MH370 six years after the plane went missing and sparked fascinating mysteries. We keep the site free to share our passion with the world.
Chorus Aviation shares climb 34% thanks to takeover. js = d.createElement(s); js.id = id;
Robert McWhirter, president of Selective Asset Management, discusses Chorus Aviation.
A Chorus-owned De Havilland Dash 8-300 lands at Vancouver International Airport in 2019 (photo: Brett Ballah). Share your opinion and gain insight from other stock traders and investors. n.callMethod.apply(n,arguments):n.queue.push(arguments)}; Shares of Chorus, which has a market value of about C$383 million ($292 million), rose nearly 7% before being halted. WhatsApp.
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This website uses cookies to improve your experience while you navigate through the website. Along with the company’s second quarter results released on August 12, chief executive Joe Randell said Chorus had cut about 65% of its workforce since the start of the pandemic. But opting out of some of these cookies may have an effect on your browsing experience. Print. These cookies do not store any personal information. Chorus Aviation receives takeover proposal Back to video Shares of Chorus, which has a market value of about $383 million (US$292 million), rose nearly 7 …
In Atlantic Canada where Chorus is based, residents are allowed to travel freely within the region. Updated: 13 hours ago. The Halifax-based regional aviation company said in a brief news release Friday that it had received "a preliminary, non-binding acquisition proposal from a third party that is subject to a number of significant conditions.". All quotes delayed a minimum of 15 minutes. October 24, 2020. var js, fjs = d.getElementsByTagName(s)[0];
By Brett Ballah on October 23, 2020 • ( Leave a comment) Chorus confirms it has received a non-binding takeover offer Company operates regional flights for Air Canada and leases regional aircraft around the world. Busta Rhymes Shows Off Her Abs After Incredible Body Transformation – See Before And After! We also use third-party cookies that help us analyze and understand how you use this website.
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Dartmouth-based Chorus, however, said there can be no assurance that any transaction will occur.
HALIFAX — Shares of Chorus Aviation Inc. surged 34 per cent after it confirmed receiving an acquisition proposal from an unnamed third party.The Halifax-based regional aviation company said in a brief news release Friday that it had received "a preliminary, non-binding acquisition proposal from a third party that is subject to a number of significant conditions.
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That's still a big drop from about $8 before the COVID-19 pandemic caused a massive loss in demand due to travel restrictions. said on Friday it had received a non-binding acquisition proposal from a third party. The company’s shares closed near their intraday high, gaining 34.2% to $ 3.18. Would you consider supporting Western Aviation News?
Sign in or register for your free account, US piles up record October budget deficit of $284.1 billion, Telus Agriculture looks to bring cutting edge tech to the food supply chain, Doctors, health unions urge Alberta to take short, sharp action on COVID-19. Viber. The pandemic is pushing New York taxis to the brink: “I can’t hold on”, Hull records highest coronavirus cases ever in startling numbers, Loblaw Increases Quarterly Dividend, Beats Third Quarter Earnings Estimates, A promising new treatment for COVID-19 authorized by the United States, still under review by Health Canada, COVID-19: UK records 33,470 more coronavirus cases – highest daily figure yet | UK News, Huge Black Friday TV deal: This 70-inch 4K TV is on sale for just $ 399.99 at Best Buy, Passenger on FIRST Caribbean cruise since March tests positive for COVID-19, During the coronavirus pandemic, Ozarks will pay you $ 10,000 to settle there, Honda launches 2022 Civic on Twitch, here’s how to watch, COVID-19: Sunak refuses to rule out return of Eat Out To Help Out | Economic news, Nvidia’s share price target is boosted at Deutsche Bank, but analysts warn of ‘super bull’ scenarios, Evander Holyfield shoots warning shot at Mike Tyson as heavyweights get closer to the fight, Val Kilmer admits he didn’t want to be in the original Top Gun but begged to be in the sequel, Covid-19 virus mutation ? This report by The Canadian Press was first published Oct. 23, 2020. Chorus receives takeover offer.
Like so many other carriers, Chorus slashed capacity in response to COVID-19. “There can be no assurance that any transaction will occur, or as to the timing, structure or terms of any transaction.”.
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Sorry, your blog cannot share posts by email. 2 weeks Chorus Aviation surged 32% on takeover offer Business Insider . Spracklin suspects the interested party is likely a Canadian-domiciled financial sponsor rather than a strategic buyer given the weakened state of the global airline industry and foreign ownership restrictions.
VK. The Halifax-based company specializes in leasing regional aircraft to airlines around the world.
Our Standards: The Thomson Reuters Trust Principles. Anyone coming from outside the region, however, faces quarantines and other restrictions. The stock closed Friday at $3.18.
Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Chorus, which provides regional air services under the Jazz Aviation and Voyageur Aviation banners, has been hampered by the pandemic and its impact on air passenger traffic like many of its industry peers.
(Reuters) - Canadian aircraft repair and overhaul services provider Chorus Aviation CHR.TO said on Friday it had received a non-binding acquisition proposal from a third party. Reporting by Arundhati Sarkar in Bengaluru; Editing by Maju Samuel. See here for a complete list of exchanges and delays.
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Share. Email. js.src="https://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6"; Still, its contract with Air Canada allowed Chorus to declare a small profit in its last quarterly report. 30. Worried about the fall in its share price, Chorus adopted a poison pill in May. That favours regional flights over long-haul routes.
(Reuters) - Canadian aircraft repair and overhaul services provider Chorus Aviation CHR.TO said on Friday it had received a non-binding acquisition …
: New Chinese cluster causes concern, France closes oldest reactor amid Macron’s climate commitments, South Korea builds first aircraft carrier, using US-made F-35B fighter jets, 3 producers quit DeGeneres show following workplace complaints. Free complaint generator may help. When Air Canada cut 30 routes this summer, 21 of them were operated by Chorus.
Telegram. 'https://connect.facebook.net/en_US/fbevents.js'); “We have adopted the Rights Plan to protect against those who may seek to take advantage of the current market environment to the detriment of Chorus and its shareholders,” said Joe Randall, Chorus’ President and Chief Executive Officer.
Chorus shares, which had been halted in trading, closed up 81 cents to $3.18.
Published: 22 hours ago. “Canadian and provincial governments need to look to other G20 countries that have implemented safe, thoughtful, practical and science-based approaches to strategically ease travel restrictions to allow businesses and economies to restart and succeed as part of this new normal, ”Randell said at the time.
ReddIt. Chorus Aviation receives takeover proposal. Walter Spracklin of RBC Dominion Securities Inc. said he's not surprised that Chorus is a takeover target because of its unique business model and resilient cash flow streams from the fixed-fee nature of revenues.
The company did not say who the interested buyer was. Still, Chorus executives believe regional aviation will lead the comeback from COVID-19. Twitter. These cookies will be stored in your browser only with your consent. The Halifax-based regional aviation company said in a brief news release Friday that it had received "a preliminary, non-binding acquisition proposal from a third party that is subject to a number of significant conditions." Here's why I like the lesser-known company here. Shares of Chorus Aviation Inc. surged on the Toronto Stock Exchange Friday afternoon after the aviation holding company revealed it had sparked interest in takeovers.In a brief statement, Halifax-based Chorus said it had received a “preliminary and non-binding acquisition proposal from a third party subject to a number of important conditions.” However, he warned that there was no guarantee that the unidentified suitor’s advance would result in a transaction.
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The company also reported a 45 percent year-over-year collapse in the second quarter. At the end of June, Air Canada – which has a major capacity purchase agreement with Chorus – scrapped 21 regional routes operated by Jazz. Linkedin. Mix.
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(Reuters) - Canadian aircraft repair and overhaul services provider Chorus Aviation said on Friday it had received a non-binding acquisition proposal from a third party.
“Chorus Aviation Inc. confirmed today that it has received a preliminary, non-binding acquisition proposal from a third party that is subject to a number of significant conditions,” the company said in a late afternoon news release. This category only includes cookies that ensures basic functionalities and security features of the website. 0.
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It also operates most of Air Canada’s regional turboprop and small jet services. HALIFAX — Shares of Chorus Aviation Inc. surged 34 per cent after it confirmed receiving an acquisition proposal from an unnamed third party.
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Chorus Aviation share prices jumped Friday on news it was the target of a takeover offer. fjs.parentNode.insertBefore(js, fjs);
In a brief statement, Halifax-based Chorus said it received a “preliminary, non-binding acquisition proposal from a third party that is subject to a number of significant conditions.” s.parentNode.insertBefore(t,s)}(window, document,'script',
It was the third of five aircraft on long-term lease to the Latvian carrier. In September, Chorus placed a new Airbus A220 with air Baltic. That’s higher than its been since August, but still half the price shares traded at in February, before the pandemic. Get all of our stories by email as they're published - free.
(Reuters) - Canadian aircraft repair and overhaul services provider Chorus Aviation. Pinterest.
“Our Air Canada Express operation is a fraction of what it was this time last year,” said Randell in August. We survive thanks to the support of readers like you.