{"id":494107,"date":"2026-06-25T02:06:13","date_gmt":"2026-06-25T02:06:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/494107\/"},"modified":"2026-06-25T02:06:13","modified_gmt":"2026-06-25T02:06:13","slug":"tourism-holdings-receives-additional-higher-741m-takeover-offer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/494107\/","title":{"rendered":"Tourism Holdings receives additional higher $741m takeover offer"},"content":{"rendered":"

The additional offer is subject to a number of conditions, including the satisfactory completion of due diligence, final board approval, obtaining required third-party consents and regulatory approvals (including any required anti-trust approvals).<\/p>\n

It is also conditional on Tourism Holdings\u2019 board unanimously recommending that shareholders accept the proposal, subject to standard New Zealand fiduciary carve-outs.<\/p>\n

Tourism Holdings\u2019 board has already agreed to grant access to the strategic buyer to undertake due diligence, under a confidentiality agreement that it says has been executed by both parties.<\/p>\n

Previous offer<\/p>\n

The additional offer received by the company is higher than the revised offer it received in May<\/a> of $3.10 to acquire 100% of the company\u2019s shares from a consortium of the company\u2019s shareholders,<\/p>\n

The consortium included BGH Capital (BGH) and the family interests of Luke and Karl Trouchet (Trouchet Shareholders). Luke Trouchet was a former director at THL.<\/p>\n

The consortium currently holds about 19.9% of the shares in Tourism Holdings.<\/p>\n

Considering their all-cash offer of $3.10 per share, and after removing the consortium\u2019s 19.9%, results in an offer with a total value of $555.42m, a difference of $185.59m.<\/p>\n

At the time, Tourism Holdings chief executive Grant Webster told the Herald the offer was not anticipated.<\/p>\n

\u201cWe weren\u2019t expecting anything, because we haven\u2019t had any communication with them for some time,\u201d Webster said.<\/p>\n

\u201cThe comment last time from the board was that we were looking for something well north of $3, so the board will obviously consider this appropriately … it\u2019s a large percentage increase on the previous offer.\u201d<\/p>\n

The company confirmed that it remains in negotiations with the consortium regarding the terms of a confidentiality agreement on similar terms to those agreed with the strategic buyer, which would allow the consortium to commence its due diligence investigations.<\/p>\n

Tourism Holdings said there was no certainty that the additional offer, or the consortium\u2019s revised offer, would result in a sale.<\/p>\n

Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.<\/p>\n

Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"The additional offer is subject to a number of conditions, including the satisfactory completion of due diligence, final…\n","protected":false},"author":2,"featured_media":494108,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[247399,35678,74,80133,2372,138,1656,2223,124,3602,13484,85915,53317,130,111,139,149074,69,13692,1523,247400,19764,14901,8466,2249,26592,131,10097,6923,19985,379],"class_list":["post-494107","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-741m","tag-additional","tag-after","tag-bidding","tag-board","tag-business","tag-company","tag-confirmed","tag-could","tag-earlier","tag-higher","tag-holdings","tag-indicative","tag-more","tag-new-zealand","tag-newzealand","tag-nonbinding","tag-nz","tag-offer","tag-over","tag-preside","tag-received","tag-receives","tag-second","tag-soon","tag-takeover","tag-than","tag-tourism","tag-what","tag-worth","tag-year"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/494107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=494107"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/494107\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/494108"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=494107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=494107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=494107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}