Noticias y eventos de Yatra Online Inc (YTRA)YTRAYatra Online Inc

Yatra Accuses Magna's Acquisition Offer of Undervaluing Company

Yatra issued the following statement regarding Magna Holdings' extension of its unsolicited partial tender offer to acquire up to 20M ordinary shares of the company for $1.10 per share in cash, less any applicable withholding taxes and without interest: "Yatra's Board of Directors has unanimously concluded that Magna's unsolicited partial tender offer is inadequate, undervalues the Company and is not in the best interests of Yatra and its shareholders. The Board believes that the Offer is below the intrinsic value of the Company and an attempt by Magna to opportunistically capitalize on the current trading price for the shares rather than to compensate shareholders for the underlying value of the Company. Nothing in Magna's recent amendment to the Offer changes the Board's conclusion. The Offer does not reflect a compelling premium, particularly in light of the ownership position of up to approximately 31% of the outstanding shares, and the influence over the Company, that Magna seeks. Magna still has not told shareholders who it is, including who controls Magna and who has supplied its financing. Magna's amended filings identify only three individuals: Anita Mitesh Master, a British citizen described only as Magna's "Director of Operations," and two newly disclosed directors, Tanuja Nair and Bibi Nafichia Auckbaraullee, both citizens of Mauritius whose only stated occupation is serving as directors of Magna. Magna's filings provide no professional background for any of them, including no indication that any of them have experience in online travel, in the Indian travel industry or in operating or investing in a public company. Magna is also a recently formed entity with no operating history that has provided no financial statements and no meaningful information from which shareholders could assess its ability to pay for the shares or the characteristics of the persons that will attempt to exercise de facto control over the Company. We appreciate the support we have received and continue to encourage all Yatra shareholders not to tender their shares into the Offer. We similarly encourage those who have tendered to withdraw their shares."

Yatra Rejects Magna Holdings' Tender Offer

Yatra announced that its board unanimously rejected and opposes the unsolicited partial tender offer from Magna Holdings to acquire up to 20M ordinary shares of the company, representing up to approximately 31% of the outstanding shares, for $1.10 per share in cash, less any applicable withholding taxes and without interest.

Yatra Online Confirms Magna Holdings' Tender Offer

Yatra Online confirmed that Magna Holdings has commenced an unsolicited tender offer to purchase up to 20,000,000 of the Company's ordinary shares, par value $0.0001 per share, representing approximately 31% of the Company's outstanding shares on an as-converted basis, at a price of $1.10 per share in cash, less any applicable withholding taxes and without interest. The offer is scheduled to expire at 12:00 midnight, New York City time, on September 17, 2026, unless extended, and is subject to proration. Consistent with its fiduciary duties and in consultation with its independent advisors, Yatra's Board of Directors will thoroughly evaluate Magna's tender offer to determine the course of action that it believes is in the best interests of the Company and its shareholders.