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Stock Market & Financial Investment News

News Breaks
July 6, 2014
20:26 EDTEXPEExpedia buys Australia's Wotif Group for A$703M
Expedia announced that it entered into an agreement to acquire Wotif.com Holdings Limited, an Australian-based online travel company, for total cash consideration of A$703M or A$3.30 per share - a premium of approximately 30% to Wotif Group's volume weighted average share price for the five trading days leading up to and including July 4, equivalent to US$658M or $3.09 per share based on July 4 exchange rates. Wotif Group operates online travel brands in the Asia-Pacific region including, Wotif.com, lastminute.com.au, travel.com.au, Asia Web Direct, LateStays.com, GoDo.com.au and Arnold Travel Technology. Wotif Group recorded A$593M in gross bookings and A$76M in revenue, in addition to generating 3.2M room nights, during the six months ended December 31, 2013. Its multi-product portfolio focuses primarily on hotel and air, offering consumers more than 29,000 bookable properties in destinations around the world. The completion of the acquisition is subject to approval by the shareholders of Wotif.com Holdings Limited and other customary closing conditions, including applicable regulatory approvals. Subject to receipt of such approvals, the transaction is expected to close during Q414.
News For EXPE From The Last 14 Days
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January 27, 2015
09:06 EDTEXPEExpedia's Egencia expands partnership agreement with International SOS
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07:46 EDTEXPEStifel to hold a conference
2015 Senior Housing and Healthcare Real Estate Conference is being held in Dana Point, California on January 27.
January 26, 2015
12:00 EDTEXPEExpedia resumed with a Neutral at Janney Capital
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January 23, 2015
09:03 EDTEXPEExpedia and Sabre announce Expedia's acquisition of Travelocity
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07:21 EDTEXPEDeutsche cautious on travel stocks into Q4 results
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January 20, 2015
14:09 EDTEXPEOrbitz jumps after Bloomberg says company may be exploring sale
Shares of online travel agency Orbitz Worldwide (OWW) are jumping after Bloomberg reported that the company is exploring the possibility of selling itself. In a note to investors on January 7, research firm FBR Capital wrote that the company could be acquired for over $10 per share, WHAT'S NEW: Orbitz is exploring a potential sale and private equity firms have expressed interest in acquiring the online travel agency, Bloomberg reported today. ANALYST VIEW: On January 7, research firm FBR Capital estimated that Orbitz could be acquired for $10.27 per share. The firm noted that a trade publication, Tnooz.com, had reported that Orbitz could be considering selling itself. Expedia (EXPE) and Priceline (PCLN) could each pay a premium of 30%-plus for Orbitz and still see their profits rise from the acquisition, FBR added. It kept a $9 price target and Outperform rating on Orbitz. PRICE ACTION: In mid-afternoon trading, Orbitz climbed 69c, or 7.5%, to $9.85.
13:51 EDTEXPEOrbitz draws private equity interest as sale explored, Bloomberg says
Orbitz Worldwide (OWW) is working with an adviser to contact potential buyers and has drawn interest from private-equity funds and "other Internet companies," according to Bloomberg, citing people with knowledge of the matter. Shares of Orbitz are up over 10% after the report, while several other names in the online travel space, such as Priceline (PCLN), Expedia (EXPE), and TripAdvisor (TRIP) are also moving. Reference Link
13:43 EDTEXPEExpedia, TripAdvisor tick higher after report on Orbitz sale exploration
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January 16, 2015
08:44 EDTEXPEExpedia may have to pay $180M for Travelocity, says FBR Capital
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07:21 EDTEXPESabre sale of Travelocity to Expedia would be win for both, says Oppenheimer
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