News Column

Priceline to Buy in $1.8 Billion Deal

November 9, 2012

Online travel giant is buying its younger competitor for 1.8 billion dollars, the companies said Thursday.

The 40-dollar-per-share deal represented a 29-per-cent premium on Kayak's closing price and a 54-per-cent premium on its initial public offering just four months ago.

The deal was backed by both boards of directors but still needs shareholder approval.

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Source: Copyright 2012 dpa Deutsche Presse-Agentur GmbH

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