Holidaybreak in takeover talks

SHARES in adventure travel and school trips company Holidaybreak soared 15 per cent yesterday after it said it was in takeover talks.

In a brief statement to the stock exchange, made as a result of share price movement, the firm said it was in talks with a "third party" which may lead to an offer for the business.

Early speculation linked Tui Travel with the firm but India-based tour operator Cox & Kings also emerged as a candidate.

Shares in Holidaybreak were up 48p at 367p, with analysts saying the company should fetch over 400p a share.