TUI Travel, TUI AG reach agreement on $8.4 billion merger

Europe's biggest tour operator, TUI Travel, and majority owner TUI AG agreed the terms of a merger, creating a the world's largest leisure and tourism group with a combined value of 6.5 billion euros ($ 8.42 billion). The deal is in line with details announced in June with TUI Travel shareholders receiving 0.399 new TUI AG shares for each TUI Travel share. Investors have long expected a tie-up …
EUROPE travel – Yahoo News Search Results

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