Sabre has offered to buy Plc for 577 million pounds to add to its Travelocity brand and create Europe’s biggest online travel retailer.

It is offering 165 pence a share in cash for Lastminute.

Analysts believe the offer is fairly priced but say there is still a chance rival U.S. groups such as IAC/InterActiveCorp or Cendant Corp may counter bid.

Lastminute Chairman Brian Collie endorsed the Sabre approach, telling reporters: “This is the only offer we’ve ever had, and it’s a very good one.”

Sabre says buying Lastminute will strengthen its negotiating position with global airline and hotel companies, allowing it to offer better deals to customers.

May 13, 2005

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