Thursday, October 11, 2007

WHOOT: Board drops support of Webjet but not yet fully in favour of Wotif

The WHOOT series update - WHoever Owns Outright - continues.

The have officially advised against accepting the Webjet offer but have not gone so far as to throw support behind the Wotif offer.

Two announcements out in the last half an hour. Webjet published their announcement first saying that it has heard from the board that the Implementation Agreement is terminated. Then moments later news from the Board confirming the termination and announcing that they
"change its unanimous positive recommendation for the proposed offer by Webjet .....[and] have withdrawn their support for the Original Webjet Offer but are continuing to consider the revised proposals from Webjet and Wotif and have instructed TVL’s advisers to explore the terms of the revised proposals with Webjet and Wotif."
Again shareholders are urged to do nothing until they hear from the Board. So we wait on the Board - or maybe for another round of betting?

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