SPECIALIST luxury tour operator Cox & Kings has emerged as the suitor of Cheshire travel giant Holidaybreak.
The Northwich business revealed yesterday that it was in takeover talks with a potential buyer after its shares soared by more than 17%.
Initial reports speculated that TUI Travel was a likely contender.
But in a stock exchange announcement this morning Holidaybreak said: “Further to the announcement on 25 July and recent press speculation, the board of Holidaybreak confirms that it is in discussion with Cox & Kings, which may or may not lead to an offer for Holidaybreak at a price of 432.1p in cash per ordinary share.
“At this stage there can be no certainty that any offer for the company will be forthcoming.”
Holidaybreak shares closed last night at 367p per share, a 15% increase.
Cox & Kings is renowned for specialist travel to destinations such as Africa, India and Tibet.
Holidaybreak has recently focused on the education market under chief executive Martin Davies who took charge in April last year.
