Travel Trust Association director Todd Carpenter believes Worldchoice shareholders will plump for the TTA’s acquisition offer following Stella Group’s takeover of Triton partners Global Travel Group.
Worldchoice members appeared set to join Global Travel in Triton Travel Ltd, pending agreement from the consortium’s shareholders. But the TTA has made a conditional cash offer to Worldchoice stakeholders which tops that on offer from Global Travel.
The TTA sent letters seeking a confirmation of interest in its offer to 160 leading Worldchoice stakeholders, holding 85% of shares, last Friday TTA director Todd Carpenter said on Wednesday that 30% had already registered an interest. Worldchoice shareholders would not be excited by the Global offer now Stella had bought Global, he said.
“Worldchoice members will not have any say in how [Global owner] Stella Travel runs its business. I’m optimistic this makes things easier for us.”
He confirmed the TTA would extend its offer to the 300 Woldchoice members holding the remaining 15% of shares this week. “Our letter will go out now,” he said.
However, Worldchoice shareholder and former board member Chris Bailey of Bailey’s Travel said: “I’m more confident about the Global offer now it is backed by serious money. This makes Global more attractive.”