On The Beach linked to takeover speculation

On The Beach linked to takeover speculation

Online travel agent On the Beach has been linked with a potential takeover bid.

The Sunday Times reported that advisors from investment bank NM Rothschild were brought in by the OTA last year, amid rumours of a potential bid from a US travel giant such as Expedia.

However, no such bid emerged, and On the Beach made no statement on the reports to the stock exchange on Monday morning.

The report also claimed Rothschild was advising on a possible acquisition for On The Beach. The company last year said it would consider acquisitions to help it expand in new markets.

On the Beach, which started life in a terraced house in Macclesfield, Cheshire, in 2004, handles bookings for more than 1.5 million holidaymakers a year.

Its shares have risen by 140% since listing three years ago.

Chief executive Simon Cooper said in a trading update to coincide with the company’s annual meeting earlier this month: “The board remains confident in the group’s outlook and will continue to evaluate opportunities to enhance its market share position.”

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