Bit of a random one, but has anyone heard of LS taking over Thomas Cook? Heard from a source that they were considering it
This is most definitely a non starter based solely on the company's nature...
LS pride themselves on doing everything themselves. All their growth has been natural (i.e no takeovers/ mergers)
LS have the 2nd largest ATOL, leaving TCX in 3rd. LS are expected to clear over 3m pax for the financial year whereas TCX have been broadly static around 2.5m
LS have all their own in-house operations, including self handling at several of the largest bases, which in turn provides a more reliable and favoured service. Everything TCX has is outsourced where possible to 'save costs'. While this may not be too much of a logistical problem, they'd just be taking on extra dead weight in most areas.
The only airline benefits (that i can see) for LS to take over TCX is for airport slots, particularly at MAN. Operating an all Boeing fleet (the A321/A330's are all wet leased) causes pilot/ training/ warehousing issues for them so the planes would be next to useless to them (unless they sold them back to Condor)
The benefit for the Holidays Arm is the hotel portfolio to help expand their Jet2Holidays offering. Having said that, they will likely overlap on upto 90% of hotels, meaning LS would take over TCX just for around a 10% hotel expansion. Based on some of the guarantees TCX will have signed, they may not even be available for a number of years.
So in summary, i would very much question your source, I'd eat my entire wardrobe if this went ahead (a hat wouldn't be that significant)