Online travel agency Travel.com.au Ltd says it will consider a $50 million rival bid from Wotif.com, derailing Webjet's offer to take over the company.

Wotif is offering to buy Travel.com.au's shares in an all-cash or alternative all-scrip bid.

The company is offering 50 cents cash for each Travel.com.au share or between 0.0893 and 0.1042 Wotif shares for each Travel.com.au share, valuing Travel.com.au at $49.8 million.

Webjet's bid offered 10 cents cash and 0.23 Webjet shares for each Travel.com.au share, valuing the travel portal at $42.3 million.

Travel.com.au, which owns Lastminute.com.au, said it would consider the terms of the Wotif offer and provide guidance to its shareholders as soon as it completed an assessment of the offer.

Get the full story at The Sydney Morning Herald