U.K.'s Airtours buys web retailer to expand in U.S

Article Abstract:

UK-based Airtours PLC will acquire Travel Services International Inc. for $385 million (390.8 million euros). The move is an attempt by Airtours to expand into the US market.

United States, Foreign operations, Travel agencies, Travel Services International Inc.

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Airtours makes bid for First Choice; U.K. travel sector is rattled by offer

Article Abstract:

Airtours PLC offered approximately $1.37 billion in stock for First Choice PLC. First Choice's board of directors rejected the bid, under which Airtours would pay 1 of its own ordinary shares for every 2 ordinary shares of First Choice, as well as 1.6 of its ordinary shares for every 2 preferred First Choice shares. Thomson Corporation PLC, meanwhile, threatened a price war to retain its top ranking in the British tours market. Thomson currently controls 27% of the market, compared with with 19% for Airtours, 17% for Thomas Cook/Carlson, and 15% for First Choice.

Marketing procedures, Company Planning/Goals, Market share, Geographic, Marketing, Thomson Corporation PLC

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Rejecting Airtours' concessions, EU is set to halt planned merger

Article Abstract:

Airtours PLC's proposed merger with First Choice PLC is in danger of being halted by the European Commission (EC). The EC turned down last-minute concessions by Airtours, a travel group based in the UK. The EC is demanding that Airtours make concessions that would eliminate any antitrust concerns. The EC believes that the proposed merger would create a three-way monopoly in the UK tour operating business.

Comment:

Airtours's proposed merger with First Choice in danger of being halted by European Commission

European Union, Laws, regulations and rules, Abstract, European Union. European Commission

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