Confirming months of industry speculation, the terms of Helloworld’s play to acquire the Aussie OTA includes a cash consideration of 90 cents per share, which it said represented a “compelling” proposition for Webjet’s shareholders.
“A combination of Webjet and Helloworld would create a powerful business proposition in the dynamic travel bookings industry,” Helloworld Chief Executive Officer and Managing Director Andrew Burnes said.
“We are committed to working collaboratively with Webjet’s board and management team to progress this transaction expeditiously and with minimum disruption to the company.”
Helloworld already owns more than 17% of Webjet, with $48.5 million of that equity purchased in the 12 months to June 2025.
In its response to the offer, Webjet Group said after careful consideration of the proposal, it has agreed to provide Helloworld with an opportunity to conduct due diligence, but notes this does not mean there is “certainty” that a sale will go ahead.
Helloworld’s proposal is subject to a range of conditions, including terms acceptable to the prospective acquirer, no material adverse change conditions, and a unanimous tick from the Webjet board that shareholders vote in favour of the proposal.
The offer follows an unsuccessful bid by BGH Capital in May to buy Webjet, with its investment partner Ariadne Australia seeking to have two reps elected to the Webjet board this week
