Webjet bidding war erupts as BGH returns with 1¢-higher offer

Webjet bidding war erupts as BGH returns with 1¢-higher offer

The cash-rich online travel agent’s board is letting the private equity firm take a look under the hood, kicking off a tug-of-war with Helloworld.

BGH Capital sweetens Webjet bid

BGH Capital has increased its takeover proposal for Australia’s Webjet Group, lifting its offer to AUD0.91 per share and edging ahead of a rival approach from industry peer Helloworld Travel, according to a report by Reuters. The revised bid values the online travel platform at roughly AUD357m and underscores growing competitive tension around the asset. The move comes just days after Helloworld lodged a non-binding offer at AUD0.90 per share, s…

Webjet Attracts Revised Takeover Offer

Webjet is attracting significant takeover interest after receiving a revised non-binding offer from BGH Capital. According to RBC Capital Markets analyst Wei-Weng Chen, the offer is 91¢ per share in cash, slightly higher than the competing bid of 90¢ from Helloworld. Webjet is an online travel agency that operates both a business-to-consumer and business-to-business model. The company provides booking services for flights, accommodation, car hir…

How high could the bidding war for Webjet go?

Webjet Group Ltd (ASX: WJL) is now fielding two separate takeover bids, with BGH Capital joining Helloword Travel Ltd (ASX: HLO) in indicating it's keen on buying out the company. However, analysts at RBC Capital Markets believe that yet another bidder could enter the fray, potentially driving the price paid for the company even higher. HelloWorld lobbed a potential bid for Webjet earlier this week, stating it would look to acquire the company f…

BGH Capital lifts Helloworld’s bid for Webjet Group to 91c

Private equity firm BGH Capital has launched a non-binding takeover offer for Webjet Group at 91 cents per share.