re: lastminute uk sale t/o Sabre bids for Lastminute.com Sabre...

re: lastminute uk sale t/o Sabre bids for Lastminute.com


Sabre Holdings, parent of Travelocity, has made a bid for Lastminute.com valuing the UK online company at £606 million.

The recommended offer at 165p per share came as Lastminute.com revealed half year total transation values up by 57% to £512 million. Gross profits in the six months to March 31 were up to £83 million from £55.9 million a year earlier.

Lastminute.com chairman Brian Collie said today: "The combination of Lastminute.com and Sabre Holdings creates a world scale business with even greater capability to work with global airlines and hotel ad car rental groups to offer unbeatable deals to our customers in Europe and the US."

The company said unique visitors rose in the half year by 71% to 1.69 million purchasing 3.6 million items, an increase of 49%.

Lastminute.com shares took off yesterday as the online company revealed that it had been approached about a takeover.

The company declined at the time to identify the suitor other than to confirm that an approach had been received.

This "may or may not result in an offer being made," the company said.

Sabre emerged as the bidder this morning as Lastminute revealed half year results.

Shares in lastminute rose before ending yesterday 45% higher at 153p.

Story to be updated later today.

Report by Phil Davies