TUI AG does not intend to make an offer for TUI Travel

TUI AG announced (23-Jan-2013) it does not intend to make an offer for TUI Travel. On 16-Jan-2013 TUI Travel announced they received an approach from TUI AG which may or may not result in the combination of the two companies. TUI AG said the decision not to make an offer for TUI Travel followed an assessment that a share-based transaction at current exchange ratios is not in the interest of TUI shareholders. [more - original PR]