BGH Capital Lifts The Stakes In Takeover Battle for Webjet

BGH Capital has raised the pressure in the contest for Webjet by submitting a non binding offer of A$0.91 per share, edging ahead of Helloworld Travels existing A$0.90 proposal. The private equity firm already holds more than 18 per cent of Webjet and its revised approach signals clear intent to compete for control of the online travel group.

The move follows Helloworlds earlier offer, which valued Webjet at about A$353 million and followed months of positioning by both bidders. Helloworld, which owns about 17 per cent of the company, continues its due diligence after being granted access by the Webjet board.

Renewed interest despite softer results

BGHs offer comes in the wake of Webjets half year results to 30 September 2025, which showed total transaction value down to A$726 million and underlying EBITDA easing to A$14.4 million. Despite the softer performance, the business remains attractive due to its established digital platform and potential synergies with a larger travel operator.

What happens next

Both offers remain indicative and subject to further negotiations as well as a potential scheme implementation agreement. The Webjet board must decide whether to support either bid and shareholders will ultimately determine the outcome. With two bidders now in play, a competitive process appears increasingly likely.

The rival proposals underline the value of scale and digital capability in the current travel environment. Any successful acquisition of Webjet would accelerate consolidation in the Australian travel sector and could influence distribution strategies and technology investment across the industry.