HORIZ0N AGREES TO 94.8 MLN STG BID FROM BASS

  Bass Plc &lt;BASS.L> and &lt;Horizon Travel
  Plc> said terms have been agreed for an offer worth around 94.8
  mln stg for Horizon by Bass.
      The offer values each Horizon share at some 0.213 of a Bass
  ordinary share, or 190p. This is based on a price of 892p, the
  Bass share quotation at 1630 gmt on April 2.
      Horizon said its board and financial advisers consider the
  offer to be fair and reasonable and the board will unanimously
  recommend acceptance to its shareholders.
      Horizon shares jumped 23p to 188 after the announcement
  while Bass shares dipped 13p to 879.
      Bass has for some time regarded overseas holidays as an
  area for expansion and in pursuit of this objective, acquired a
  25.6 pct holding in Horizon in 1985 when it set up the jointly
  owned hotel company.
      Both Bass and Horizon said that Bass's resources will
  enable Horizon's businesses to expand strongly this year.
      On March 30 Bass said it had agreed to sell its Pontins
  U.K. Holiday camps to a newly formed private company, Pontins
  Ltd, for some 57.5 mln stg.
  

