Shares of Kayak Software (KYAK) rose sharply in after hours trading on Thursday. Shares of the online travel company hit all time highs of $39 per share after its larger competitor Priceline.com (PCLN) announced its intention to acquire the company for $40 per share.
The Deal
Priceline.com announced on Thursday after the close that it will acquire travel company Kayak. Priceline will pay $40 per share in cash and stock. The deal values Kayak at roughly $1.8 billion, or $1.65 billion when excluding the net cash position of Kayak. Priceline will pay $500 million in cash and the remainder of the deal value will be paid in stock and stock options.
Read the entire article on Seekingalpha by clicking the following link
No comments:
Post a Comment