Tourism Holdings shares surge; KEA, United Campervan merger to swell profits

Mon, 03 Sep 2012

By Hannah Lynch Sept. 3 (BusinessDesk) - Shares in Tourism Holdings rose to a six-month high after the NZX-listed campervan rental company said it will acquire KEA Campers and United Campervans in a $69.5 million deal that will double its per-share earnings in 2014. The stock rose about 14 percent to 65 cents, the highest since Feb. 27. Shares in the Auckland-based company have shed about 3 percent this year and are rated 'outperform' based on the consensus of three recommendations compiled by Reuters. "The merger is the best response to th...

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