Sabre Bids For Lastminute

Sabre has offered to buy Lastminute.com 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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