Shares of Expedia (EXPE) fell 2.2% in Friday's trading session after the online travel agency announced that it has agreed to acquire a majority stake in German based Trivago, in order to boost its European operations.
The Deal
Expedia announced that is has entered into an agreement to acquire a majority 61.6% equity stake in Trivago. Expedia will pay a total of 477 million Euro for the stake, or roughly $632 million. This includes a 434 million Euro cash payment, while the remainder will be paid in Expedia's stock.
No comments:
Post a Comment