|Bid||12.80 x 200000|
|Ask||12.98 x 130000|
|Day's range||12.52 - 13.34|
|52-week range||8.40 - 118.60|
|Beta (3Y monthly)||0.54|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||0.01 (2.07%)|
|1y target est||49.49|
Thomas Cook has confirmed it has been approached by private equity firm Triton Partners over a takeover of its Northern Europe business. Talks between the two sides are at a very early stage but the deal, should it go through, would include Thomas Cook’s tour operator and airline in Norway, Sweden, Finland, and Denmark. “The […] The post Imperiled Thomas Cook in Talks to Sell Nordics Division appeared first on Skift.
The world’s oldest travel agency is evaluating the “highly preliminary and unsolicited” offer for its tour operator and airline business in Norway, Sweden, Finland and Denmark, according to a statement. Thomas Cook also said it’s considering multiple bids for parts or the whole of its airline operation. “There can be no certainty that a transaction will be concluded with Triton Partners,” the London-based company said.
Thomas Cook has received a takeover approach for its Nordic operations from private equity group Triton, the tour operator said on Thursday, adding that it was considering the unsolicited offer but talks were at a preliminary stage. The bid from Triton Partners is for its Northern Europe business, comprising its tour operator and airline in Norway, Sweden, Finland and Denmark, the company said. "Thomas Cook Group confirms that it has received a highly preliminary and unsolicited indicative offer from Triton Partners for its Northern Europe business," the company said in a statement.
Credit rating agencies Fitch and S&P have downgraded Thomas Cook after the travel firm's latest profit warning, saying the indebted company could struggle this summer in the face of weak demand. Thomas Cook issued its third profit warning in less than a year last week, saying subdued demand had led to increased promotions and earlier discounting than usual. The profit warning led Citi to cut its price target for the stock to zero.
One of Europe's largest buyout firms has approached Thomas Cook Group about a takeover of its Nordic airline and tour operator that could help the British company improve its fragile financial outlook. Sky News has learnt that Triton, which bought the travel company Sunweb Group last December, is in talks with Thomas Cook about a deal. If completed, the transaction being considered would see Thomas Cook offloading a business which holds market leading status - or close to it - in Denmark, Finland, Norway and Sweden.
British Steel, a national champion once owned by the government, collapsed on Wednesday while debt-laden Thomas Cook Group, whose founder organized the first round-the-world tour in 1872 and which invented the package holiday in Victorian England, saw its shares plummet to their lowest in more than seven years on Monday. While the British jobless rate is at a 44-year low, these corporate struggles come as the Brexit process looks set to stumble along for months, if not years, adding further uncertainty to the economic outlook. Although British Steel and Thomas Cook each cite Brexit as contributing to their troubles, their decline also stems from years of structural upheaval, said Garry White, chief markets commentator at Charles Stanley, a U.K. brokerage.
Does Thomas Cook Group plc (LON: TCG) today represent a buying opportunity or a bargepole job? Here’s what I think...
Updates from these two companies have seriously damaged their share prices, so are they stocks to buy now for their recovery prospects?
Here are six factors that may determine whether the company that invented the package holiday in Victorian England will be helping Europeans to get a tan in summer 2020 -- or be putting its feet up for good. Thomas Cook revealed in February that it was looking to raise cash by selling airline operations that carry 20 million passengers a year from the U.K., Germany and Scandinavia to the Mediterranean and other holiday sunspots. The fleet of about 100 jets flew 90% full in 2018, generating 3.5 billion pounds ($4.5 billion) in revenue and 129 million pounds in underlying earnings, with Deutsche Lufthansa AG, Virgin Atlantic Airways Ltd. and Ryanair Holdings Plc said to be taking a look.
The bonds hit a record low and the shares have fallen as much as 60% in three trading days as Sky News reported that a payment intermediary would be witholding money from the Thomas Cook. The maturing in 2022 tumbled 14 cents on the euro to 33.36 cents, based on data compiled by Bloomberg. A payment company working with Thomas Cook in the Nordic region is in talks to extend to several weeks instead of two days, the period for which it retains payments for trips, Sky News reported without saying how it got the information.
This appears to be headed only one way for long-suffering equity holders. The crisis of confidence comes after Thomas Cook made a cautious statement about its profit last Thursday. Thomas Cook has been in discussions with its suppliers over the past few days to reassure them about its financial position.
Payment firms are seeking to hold on to millions of pounds of customers' money owed to Thomas Cook Group in a move which underlines the financial pressures afflicting the 178-year-old tour operator. Sky News has learnt that a payment intermediary which works with Thomas Cook in the Nordic region - a significant part of the company's operations - is in talks to extend the period for which it retains holidaymakers' cash from two days to several weeks. In Thomas Cook's case, the Nordic situation is likely to have an impact on its short-term cashflows.
Thomas Cook has seen its shares plummet by a further 40% after banking analysts cut their target price on the holiday firm's stock to zero. Citigroup downgraded its rating to "sell" in the wake of the latest profit warning by the world's oldest travel company, which had already led to a fall in its shares of almost 15%. It came a day after Thomas Cook reported a half-year loss of £1.46bn as it counted the cost of Brexit uncertainty causing UK consumers to delay holiday plans.
The FTSE 100 lost 0.1%, but still bagged weekly gains after a turbulent few sessions largely dominated by global trade relations. The FTSE 250 slipped 0.2%. Online takeaway service Just Eat tumbled 8.2%, its steepest one-day decline in more than a year, after rival Deliveroo said it had gained Amazon's backing in a $575 million funding round.
Thomas Cook Group shares lost a quarter of their value on Friday and bonds hit a record low after Citi downgraded its rating to 'sell' and cut its target price on the stock to zero, in the wake of the company's latest profit warning. Thomas Cook issued its third profit warning in less than a year on Thursday, saying discounting and higher fuel and hotel costs would hurt it during the peak summer season.
Thomas Cook Group shares sank by nearly a third on Friday and bonds hit a record low after Citi downgraded its rating to 'sell' and cut its target price on the stock to zero, a day after the company's latest profit warning. Shares in the world's oldest travel company, battered by fading demand for its package holidays and high levels of debt, hit their lowest since July 2012 and were on track for their biggest one-day drop since November 2011. The cost of credit default swaps, a form of insurance against default, rose to 51% in upfronts from 48% on Thursday.
By Muvija M and Yadarisa Shabong (Reuters) - Rallying banks and mining stocks lifted Britain's FTSE 100 on Thursday, but weak earnings hit luxury brand Burberry (BRBY.L) and Thomas Cook (TCG.L) was floored ...
British travel group Thomas Cook issued its third profit warning in less than a year on Thursday, sending shares tumbling to a 6-1/2 year low as it said discounting and higher fuel and hotel costs would hurt it during the peak summer season. Thomas Cook said it had received multiple bids for its airline unit, but this was overshadowed by what Chief Executive Peter Fankhauser called a "difficult trading environment" despite a delay to Britain's exit from the European Union. "With a lot of holidays left to sell across the market, there are high levels of discounting at this early stage of the season... This is putting further pressure on margins," Fankhauser told reporters, adding that a delay to Brexit from March 29 until October had brought no respite.