Webjet Group (ASX:WJL) has terminated acquisition discussions with Helloworld Travel (ASX:HLO) and BGH Capital, ending months of speculation regarding a potential change of control.
The travel tech company confirmed it has ceased all engagement with the two suitors after they failed to deliver binding proposals that met the board’s requirements for value and execution certainty.
The saga began in late 2025 when Webjet received competing indicative offers: an all-cash bid from Helloworld at $0.90 per share and a slightly higher revised offer from BGH Capital at $0.91 per share.
Despite granting both parties twelve weeks of due diligence access, the Webjet Board concluded that no offer was currently capable of being recommended to shareholders.
Chair Don Clarke stated that management’s "time, focus, and resources" will now shift back to the company's independent "FY30 plan," prioritising brand expansion and technological investment.
While the company reported improved revenue per booking and increased brand awareness following its October OTA relaunch, it warned that a "challenging trading environment" has persisted into the second half of the fiscal year.
By walking away from the negotiating table, Webjet signals a "bet-on-self" strategy, though the Board noted it remains open to future proposals that offer "compelling value."