July 26, 2018 at 8:00 AM
It has been reported by Canadian media that Air Canada, along with The Toronto-Dominion Bank ("TD"), Canadian Imperial Bank of Commerce ("CIBC"), and Visa Canada Corporation ("Visa"), launched a hostile takeover bid of AIMIA's loyalty program, Aeroplan. Unifor has confirmed that this is an offer in the form of a joint business venture to purchase the Aeroplan component of AIMIA’s business. This is not a hostile take over bid aimed at AIMIA.
The estimated $2.25 billion offer from the group has a deadline of August 2, 2018 for AIMIA to respond.
At this time, it is unknown if the offer will be accepted by AIMIA's Board of Directors. It is also unknown what impact a potential sale will have (if any) on Unifor members. In the interim, it is "business as usual".
When further details are confirmed, we will ensure that they are communicated. Please ensure that you have subscribed to Unifor 2002's e-news service at unifor2002.org. For further information please contact your Bargaining Committee Representative.
For more information, please contact:
Josée Genois – Assistant to the President
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