A year ago to the day, the market was rife with speculation that German group Tui AG was keen to buy complete control of UK subsidiary Tui Travel, a FTSE 100 listed business.
Even then the speculation was not new, with Tui AG's sale of its Hapag-Lloyd container business seen as a way of funding any deal.
Now, finally, it appears something could actually happen. Tui Travel has announced that it has been approached by Tui AG, which owns just over 35%, about a nil premium all share merger. Not a reverse takeover then. Tui AG apparently has until 13 February to put up or shut up - unless the takeover panel grants an extension.
The news has sent Tui Travel shares soaring 12.4p to 293.8p, a 4.4% rise which makes it the biggest climber in the FTSE 100.
