2302 GMT - BGH Capital likely needs to raise its offer to acquire a controlling interest in Webjet if it wants to get talks underway, suggests RBC Capital Markets. Webjet said late Tuesday that BGH has offered A$0.80/share in cash. Webjet added that the private-equity company is open to some existing shareholders retaining an equity stake. Analyst Wei-Weng Chen says the offer multiple is well below travel-agency peers and the broader market. It thinks a valuation range of A$1.05-A$1.30/share is warranted before adding on a change-of-control premium. So, RBC believes the board and shareholders might only engage if BGH offers a price between A$1.26/share and A$1.50/share. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
May 13, 2025 19:02 ET (23:02 GMT)
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