Flight Centre shares slip after addressing reports it could acquire Iglu for $202m

The news: Flight Travel Centre told the exchange that it “has not reached any agreement with any party or parties in relation to acquisitions” after Sky News UK reported overnight it was close to buying cruise operator Iglu for an estimated GBP100 million ($202 million).

The context: Flight Centre told the ASX it is “aware of the media speculation overnight linking it with a possible acquisition in the United Kingdom”, without naming the reported deal or media report.

The company said it "regularly evaluates strategic M&A opportunities” and has “not reached any agreement with any party or parties in relation to acquisitions”. It also flagged that any discussions are “ongoing, incomplete and confidential”.

Sky News UK reported that Iglu shareholder LDC, the private equity arm of Lloyds Banking Group was close to selling the cruise operator, with Flight Centre Travel Group the “frontrunner to buy the business”.