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. Last Updated: 07/27/2016

C&N Ups Bid

LONDON -- German holiday firm C&N Touristic AG finally got Thomson Travel Group PLC to the negotiating table Friday with an increased offer valuing Britain's biggest tour firm at pounds 1.6 billion ($2.41 billion).

Thomson said it was in talks that could lead to a recommended cash offer of 160 pence per share, 15 pence above C&N's previous approach and 30 pence higher than the first indicative offer made in early April.

C&N hopes to forge Europe's biggest travel company with the addition of Thomson, overtaking Germany's Preussag AG, which controls Thomas Cook.