Wotif receives takeover offer

You can imagine how the conversation went: ‘Hi Graeme, it’s Expedia here. Look, Booking.com is now the country’s most visited online travel agency and we’re fourth. We both have very deep pockets and you don’t. One way or another, we’re going to get your customers. It’s your choice whether you want that to happen slowly and painfully or quickly, with a respectable exit for you.’ Graeme Wood did what everyone else standing before a steamroller would do with that kind of choice. So, for the princely price of $3.30 per share (including a special dividend), still 41% less than...

You can imagine how the conversation went: ‘Hi Graeme, it’s Expedia here. Look, Booking.com is now the country’s most visited online travel agency and we’re fourth. We both have very deep pockets and you don’t. One way or another, we’re going to get your customers. It’s your choice whether you want that to happen slowly and painfully or quickly, with a respectable exit for you.’

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