Australia's Webjet rejects BGH Capital's $201 million bid for controlling stake (updated)

Webjet

16/05/2025 24:46

Adds background on offer from paragraph 2

May 16 (Reuters) - Australian online travel agency Webjet Group WJL.AX rejected a controlling stake bid of A$314 million ($201.02 million) from private equity firm BGH Capital on Friday, saying the offer undervalued the company.

BGH Capital had proposed a price of A$0.80 per share, a 10% discount to Webjet's closing price on May 13.

"Board considers that the BGH proposal involves significant uncertainty for the company and its shareholders, including in relation to its structure and proposed conditions," Webjet said in a statement.

($1 = 1.5620 Australian dollars)

 (Reporting by Nichiket Sunil in Bengaluru; Editing by Mohammed Safi Shamsi)

 ((Nichiket.Sunil@thomsonreuters.com;))