Thomas Cook shares rise on report of possible takeover
- Shares and bonds in Thomas Cook Group Plc rallied on Tuesday after a media report said the British travel company was approached by several parties about a possible takeover of its tour operating unit or the entire business.
Citing unnamed sources, Sky News reported over the weekend that U.S. private equity firm KKR & Co and Swedish buyout group EQT Partners were potential bidders for the group. China’s Fosun International, which owns a 17 percent stake in the company, was understood to be among those to have lodged preliminary interest in the tour business, it added.
The cost of insuring debt issued by the company against default eased to 24 basis points to its lowest in weeks from 28 previously, IHS Markit data showed.
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