Webjet Group has confirmed it has ceased discussions with both Helloworld Travel and private equity firm BGH Capital regarding potential change-of-control transactions, after neither party submitted a binding proposal capable of being put to shareholders it revealed in an ASX update today.
In November 2025, Webjet Group became the centre of an unexpected takeover battle after reporting disappointing 1H26 results, with major shareholders circling the online travel agency just weeks after its brand refresh. Helloworld Travel, which already held about 17 per cent of the company, launched a $353 million bid at 90 cents per share and was granted due diligence access. Within days, a rival consortium comprising BGH Capital, Ariadne Australia and Dr Gary Weiss escalated the situation with a higher 91-cent-per-share offer, signalling a potential bidding war for control of the business and sending shockwaves through the travel industry.
In today’s update, the company said it had engaged constructively with both suitors over the past 12 weeks, granting due diligence access following separate non-binding indicative offers received in November 2025. Helloworld had proposed acquiring the remaining shares it did not already own at A$0.90 per share via a scheme of arrangement, while BGH Capital lodged a revised off-market takeover proposal at A$0.91 per share for shares not already held by BGH and its associates.
However, Webjet’s board said neither party ultimately delivered a binding offer consistent with those indicative proposals or one suitable for shareholder consideration.
“The Webjet Board does not believe there is sufficient certainty that a binding proposal capable of being recommended will be received from either party within an acceptable timeframe,” the company said in a statement.
As a result, management will redirect its focus to executing the company’s existing strategy and growth plans.
Chair Don Clarke said the business would prioritise its FY30 roadmap, including expanding addressable markets, strengthening brand and customer engagement, and continuing technology investment to enhance the customer experience.
The board added it remains open to any future proposal that delivers compelling shareholder value and a clear path to execution.
Trading remains challenging despite brand momentum
In a trading update, Webjet noted encouraging trends in brand awareness and revenue per booking following the relaunch of its OTA brand in October. However, the company said the broader operating environment remains difficult and those challenges have persisted into the second half of FY26.
The update brings an end — for now — to speculation over a potential consolidation move in the Australian online travel sector, with Webjet signaling it will continue independently while navigating ongoing market headwinds.
‘A powerful business proposition’ – Helloworld launches $353m takeover bid for Webjet Group
