Tourism Holdings Receives Additional Non-Binding Takeover Offer From Unnamed 'Credible Strategic' Buyer

MT Newswires Live
Jun 25

Tourism Holdings (ASX:THL, NZE:THL) received an additional non-binding indicative offer from an unnamed "credible strategic" buyer to acquire 100% of the company at a proposed price of NZ$3.30 to NZ$3.40 per share, according to a Thursday filing with the New Zealand and Australian bourses.

The proposal is subject to customary conditions, including due diligence, board approval, regulatory and third-party consents, and unanimous board recommendation, subject to standard fiduciary carve-outs, per the filing.

The company has allowed the bidder to conduct due diligence under a confidentiality agreement while emphasizing that no decision has been made and there is no assurance that a transaction will proceed, the filing said.

The company is also engaged in discussions with the BGH consortium on a similar confidentiality agreement to support due diligence, the filing added.

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