Vincent Chiara, Groupe Mach president and owner, said his bid is less likely to draw monopoly scrutiny from the Competition Bureau than Air Canada over to the increase in market share it would create. The Montreal real estate investor group is offering $1 more per share than Air Canada. Montreal-based FNC Capital is also exploring a rival bid. Air Transat shares rose 0.45 per cent on the news, hitting $13.45 in late afternoon trading. (Globe and Mail)

Talking point: For Air Canada, buying Air Transat is a way to shore up its dominance over WestJet in the European, Mexican and Central American markets, following private equity giant Onex’s offer to buy Air Transat for $3.5 billion. If Groupe Mach is successful, it will keep Air Transat’s current air offerings while expanding the resort side of the business, alongside Spanish real estate developer TM Grupo Inmobiliario, which has offered to cover the $15-million break fee Air Transat will need to give Air Canada if the two don’t ultimately sign a deal. Whichever deal is ultimately selected will need to get two-thirds approval from shareholders. So far, two Air Transat shareholders—who collectively own about 22 per cent of the firm—have said they oppose the Air Canada offer.