wotif wants travel.com.au

Wotif.com Holdings Limited (Wotif.com) today announced that it intends to make an offer (Offer) to acquire all the outstanding shares in Travel.com.au Limited (TVL) by way of an off-market takeover bid.
Details of Offer
Wotif.com's Offer provides TVL's shareholders with a choice of two alternative forms of
consideration:
• $0.50 in cash for each TVL share (All Cash Alternative); or
• between 0.0893 and 0.1042 Wotif.com shares per TVL share (All Shares
Alternative). The actual number of Wotif.com shares that will issue and the
implied value under this All Shares Alternative is set out below under the heading
"All Shares Alternative".
This offer values TVL at approximately $49.8 million1.
Wotif.com's Offer is subject to the conditions set out in Annexure 1 which include
(among others):
• Wotif.com acquiring 90% of TVL shares;
• receipt of all regulatory approvals (including any approval required from the Travel
Compensation Fund);
• no restraint that adversely affects Wotif.com's Offer;
• certain conduct of business conditions (i.e. no material acquisitions, disposals or
changes in the conduct of business);
• no prescribed occurrences;
• no material adverse change; and
• TVL holding all licences and permits necessary for the conduct of its business
(notwithstanding the change in control resulting from the Offer).
Wotif.com's Offer will extend to any new TVL shares issued during the Offer period due
to the exercise of TVL options in accordance with their terms.

So now we have Webjet and Wotif wanting to buy TVL and the AOT Group nibbling away too. What are Newscorp doing? Sitting pretty happy with their investment I would think.