TUI AG eyes TUI Travel merger

TUI Travel has confirmed it has been approached by TUI AG over a potential merger.  

Responding to press speculation, UK-based TUI Travel said in a statement it had been in “very early” talks with the German travel giant TUI AG over a nil premium all-share merger and not a reverse takeover.

TUI AG, which owns 56.4% in the UK business, currently has until 13 February 2013 to announce its intention to make an offer for TUI Travel or not.

TUI Travel stressed an offer may not be made at all but released the statement “in the interests of market clarity”. 

By Amanda Greenwood, 16 January 2013, Wednesday 3:06 PM