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High-end holiday firm makes bid

Upmarket tour operator Cox -amp; Kings has been unmasked as the potential suitor for Holidaybreak, the owner of Explore and school trips business PGL.

The Mumbai-listed firm is in talks with Holidaybreak's board, valuing the business at just over £3m. Holidaybreak disclosed the identity of its potential bidder a day after revealing to the stock market that it had received a takeover approach.