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Stock Market & Financial Investment News

News Breaks
December 21, 2012
10:46 EDTEXPEExpedia agrees to acquire majority of trivago for $632M
Expedia announced entry into a definitive agreement to acquire a 61.6% equity position in trivago, a metasearch company headquartered in Dusseldorf, Germany, for total consideration of approximately $632M, based on current exchange rates, including EUR434M in cash as well as EUR43M in Expedia common stock. Expedia expects the deal to be accretive to adjusted earnings per share in 2013. The deal is anticipated to close during the first half of 2013 pending approval from relevant competition authorities. Post close, the trivago co-founders and management team will continue to operate independently based out of trivago's headquarters in Germany.
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March 27, 2015
13:32 EDTEXPESabre in talks for non-U.S. acquisition in travel network business
In a regulatory filing, Sabre (SABR) reports that the Hawaii Supreme Court ruled this month that Expedia's (EXPE) Travelocity is not subject to Hawaii’s transient accommodation tax but is subject to its general excise tax. The court further ruled that an income splitting provision that benefits Travelocity applies to the general excise tax. Sabre initially paid $34M in 2013 in order to appeal the matter and expects to receive a majority of this amount back as a result of this ruling. The company also reports that as of the date hereof, Sabre is involved in active negotiations for a potential non-U.S. acquisition within the travel network business segment for which it is possible that it will enter into an agreement in Q2. If consummated, it anticipates that the acquisition would close in Q2/Q3 and require approximately $500M in funds. With respect to its consolidated income statement for the year ended December 31, on a pro forma basis, it expects the acquisition would have resulted in a revenue increase of approximately $250M and would have resulted in a modest increase in adjusted EBITDA. In 2015, it expects the transaction would be approximately neutral to adjusted EPS, and would have a positive impact on adjusted EPS thereafter.
March 25, 2015
17:37 EDTEXPEExpedia, Orbitz receive second information request from DoJ
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