Takeover talks for Holidaybreak

HOLIDAYBREAK, owner of education holiday brand PGL as well as Eurocamp and Keycamp, said today it is in takeover talks.

The group, based near Northwich but with an operation in York, said the talks with an un-named third party “may or may not lead to an offer being made” for the business.

The company made the brief statement after a significant rise in its share price in the last week from 293p to around 330p (9%).

Today’s announcement sent shares up a further 17%  to 373p. Before today’s rise the business has a market cap £244m.

The statement said: “As a result of a movement in Holidaybreak’s share price, Holidaybreak announces that it is in discussions with a third party which may or may not lead to an offer for Holidaybreak.

“A further announcement will be made in due course.”