Lastminute shares rocket on takeover news
There was only one big story among travel and tourism shares yesterday, as London’s main equity indices lost ground.
The FTSE 100 index dropped 17 points to end the day at 4875.4, while the FTSE 250 lost 1.5 points to close at 6743.4.
The big news, of course, came at Lastminute.com, which this morning confirmed it has accepted a £577 million takeover bid from Sabre Holdings.
On confirmation that the company had received a bid approach yesterday, shares in Lastminute.com soared some 47.75p to end the day at 153p – a stunning increase of 45 per cent.
The BBC points out that, while the company turned over £990 million last year, it still lost £77 million in 2004.
Alpha Airports 94p UP 0.5p
Avis Europe 69.5p NO CHANGE
BAA 593.5p NO CHANGE
British Airways 246.5p DOWN 1.5p
CNG Travel Group 53p NO CHANGE
Carnival 2753p UP 3p
CenterParcs 60p DOWN 0.5p
De Vere 530p UP 5p
EasyJet 235.25p UP 3.75p
ebookers 319.5p NO CHANGE
EuroDisney 8.5p NO CHANGE
Eurotunnel 13.25p NO CHANGE
First Choice 166p UP 2p
Hilton Group 266.25p DOWN 3.25p
Holidaybreak 625p DOWN 5p
Intercontinental 618.5p DOWN 6.5p
Lastminute.com 153p UP 47.75p
MyTravel 6p NO CHANGE
P&O 278p UP 0.75p
Rank Group 250p DOWN 3p
Ryanair 390p DOWN 3.5p
Stagecoach 106.75p UP 1.5p
Report by Tim Gillett, News From Abroad Ltd www.newsfromabroad.com
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