Overview
- Helloworld’s non-binding offer seeks to acquire all Webjet shares it does not already own via a scheme of arrangement.
- Webjet said any deal requires a scheme implementation deed and a unanimous board recommendation, with no superior proposal and an independent expert finding it is in shareholders’ best interests.
- Helloworld has built a roughly 17.27% stake in Webjet over the past six months ahead of the approach.
- The purchase price would be funded through cash on Helloworld’s balance sheet plus new debt facilities, according to the announcement.
- Webjet told shareholders no action is required at this stage, with the board’s willingness to grant due diligence marking a shift from its May stance toward BGH and Ariadne.