Tourism Holdings rejects BGH Capital's acquisition offer

Tourism Holdings (thl) has rejected a non-binding indicative offer from a consortium comprising BGH Capital and the family interests of Luke and Karl Trouchet to acquire the company for $2.30 per share.

The thl board engaged expert financial and legal advisers and formed a committee of independent directors to assess the offer.

After a comprehensive assessment, the board concluded that the value of the company is well above $3 per share.

It acknowledged the inherent risks in thl's growth roadmap and the potential impact of global economic factors on its future outlook.

However, it deemed the current offer from the consortium as too low to engage with.

The board has communicated its rejection to the consortium but remains open to further engagement if a significantly improved offer is made.

In a separate update, thl confirmed that its underlying net profit after tax expectations for the 2025 financial year are in line with the lower end of the analyst range.

However, it said its statutory net profit after tax for the same year is likely to be a loss, due to potential impairment of USA goodwill and other non-cash one-off items.