Priceline buys Kayak for $1.8 billion dollars – Travel Intelligence.



A bomb just dropped in the online travel world: Priceline the world’s largest travel company, has agreed to acquire travel meta-search company Kayak, for about $1.8 billion. Priceline’s shares are down about 1.7 percent in extended trading, while Kayak’s up about 1.6 percent.Major deal points:– Priceline is offering $40 per share of Kayak, which is about 30 percent premium on today’s share value of around $30 a share. This values the company at about $1.8 billion, with about $500 million in cash and $1.3 billion in equity and assumed stock options.– Both boards have approved the deal, but shareholder approval required, expected to close by Q1, 2013.– Kayak to remain a separate brand, with same management.– As of November 8, 2012, Kayak’s directors and officers owned 70.4%, of its Class A and Class B common stock, which represents 77.9% voting power, which means shareholder resistance to the deal unlikely.

via Priceline buys Kayak for $1.8 billion dollars – Travel Intelligence. Global Smartness.

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Content Curator Tom George

Founder and CEO of Internet Billboards. A futurist and serial entrepreneur, as well as a professional fitness trainer, martial artist, and business strategist. Helped to develop inbound advertising. An avid content curator who enjoys finding those digital gems out there in cyberspace and sharing them with others.

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