Friday, September 28, 2007

Is there another buyer in the wings for Travel.com.au?

It was supposed to be a done deal. The number one player - Webjet.com.au - buying the number two player - Travel.com.au. But things are never easy.

The online version of the Australian is reporting that Travel.com.au has "received an unsolicited third party proposal". Travel.com.au has not said who but are quoted in the Australian as saying - "no assurance can be given that such party will proceed with an offer for the company". Here is the official filing document from Travel.com.au so at least you have me finally reporting something that it not just a rumour.

So - who could it be? Please speculate in the comments section. A large offline retailer maybe? An Australian media company?

Thanks to the interested reader that sent me this so quickly.

UPDATE - Webjet have come back with an announcement saying in effect that they are the only bidder on the table, have the full support of the Board and already have 19.9% of the stock (enough to block any other bid)

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