The Webjet Limited (ASX: WEB) share price has surged into the green on Monday despite no news having been released by the online travel agency.
However, the travel sector is facing a barrage of exciting news that might be piquing the market’s interest in Webjet.
At the time of writing, the Webjet share price is $6.49, 3.02% higher than its previous close.
Let’s take a look at the news that might be impacting Webjet’s stock on Monday.
What’s driving the Webjet share price today?
The Webjet share price is soaring as the United States prepares to open its international borders, Sydney Airport (ASX: SYD) agrees to a longstanding takeover offer, and a plethora of travel shares surge higher.
The United States’ international borders will reopen to vaccinated travellers from 12:01 am eastern standard time on Monday (3:01 pm AEST and 4:01 pm AEDT).
It will mark the first time non-essential travel will be allowed into the nation since its borders were slammed shut to stop the spread of COVID-19 in March 2020.
No doubt, some market watchers will be excited by the potential for a resurgence in holidays to the United States.
Meanwhile, in ASX-centric travel news, Sydney Airport has accepted a takeover bid posed to it by the Sydney Aviation Alliance. The alliance is made up of a consortium of infrastructure investors and super funds.
The accepted bid will see Sydney Airport shareholders handed $8.75 cash for every security they hold in the airport.
Like the Webjet share price, Sydney Airport’s stock is in the green today. Right now, it is $8.45, 2.67% higher than its previous close.
As The Motley Fool reported this morning, the offer values Sydney Airport at nearly $32 billion.
The takeover is still subject to approval from the Foreign Investment Review Board and the Australian Competition and Consumer Commission. It will also need to pass a shareholder vote.
Perhaps unsurprisingly, the Webjet share price is not alone in its gains today.