Sabre gets to the point with Travelocity

NEWS Online travel firm Travelocity is the subject of a $345m bid from electronic reservation systems company Sabre. Sabre currently owns 70 per cent of Travelocity and is bidding to take complete control of the firm with an offer which represents a 20 per cent premium on Travelocity's share price. Sabre has offered $23 per share for the remaining stake - 15 million shares - while Travelocity's stock closed at $19.20 on Friday. However, following Sabre's offer Travelocity shares jumped 30 per cent to $24.90 on Tuesday.