Holidaybreak shares suspended as takeover approved
CHESHIRE-based holidays business Holidaybreak has announced that a £312m takeover bid for its shares by a subsidiary of Indian holidays company Cox & Kings has been approved at a court hearing.
Following the approval, the company’s shares have now been suspended from the stock exchange and should be delisted from tomorrow.
Shareholders had already given their assent to the bid, which valued Holidaybreak’s shares at 432.1p per share. This was a 35.5% premium to the closing price on the day before the offer was announced.
