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