Webjet Group ends takeover talks with Helloworld and BGH Capital
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The news: Online travel agency Webjet Group has ended discussions with suitors Helloworld and BGH Capital after neither company put forward an offer that matched their indicative proposals announced in November.
The context: Webjet said it has "engaged constructively" with ASX rival Helloworld and private equity group BGH over the last 12 weeks, providing both suitors with due diligence access.
Helloworld had tabled an indicative offer at 90 cents per share, while BGH's indicative bid was at 91 cents per share.
However, the Webjet board did not receive a proposal from either party that was consistent with those respective indicative offers, the company said.
It said there is not "sufficient certainty" that a binding proposal would be reached within an "acceptable timeframe", with the board determining that "management’s time, focus and resources should return wholly to executing the company’s existing strategy."
"The Webjet board remains open to engaging on any future change of control proposal that represents compelling value for shareholders and offers sufficient certainty of execution within an acceptable timeframe," the company said.
Elsewhere, Webjet downgraded its underlying EBITDA guidance for FY26 from $30-32 million to $28-29 million, after flagging a continued "challenging trading environment" into the second half of the year.
The source: ASX
