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. Last Updated: 07/27/2016

C&N Weighs Offer




LONDON -- Germany's No. 2 tour operator, C&N Touristic AG, said Thursday it might consider a higher offer for Britain's biggest holiday firm, Thomson Travel Group PLC, after its initial approach was rejected.


C&N, a 50-50 joint venture between airline Lufthansa AG and retailer Karstadt Quelle AG, announced it was ready to talk to Thomson about improving an indicative 130 pence a share offer.


The original price, rejected by Thomson as "wholly inadequate," valued the underperforming British group at pounds 1.3 billion ($2.07 billion). Many industry analysts believe a price of 150 pence could swing the deal in C&N's favor.