Tripadvisor jumps 13% as it evaluates potential deals
13/02/2024 09:43
** Tripadvisor Inc shares TRIP.O jump 13.5% to $25.4
premarket after online travel agency forms a special committee
to explore potential deals
** Centerview Partners will act as financial adviser to the
special committee, which will look into Liberty TripAdvisor
Holdings' disclosure of its intent to evaluate potential
alternatives involving the two companies
** Liberty TripAdvisor, an entity created at the time of
spin off of Tripadvisor from Liberty Interactive, owns 21% stake
in co
** TD Cowen raises PT to $25 from $18 following the
announcement
** "We think Tripadvisor could be exploring a spinoff of its
experience and/or dining business" - Morningstar analysts
** "While we have viewed these assets as undervalued at
various times in the past, we currently think these attractive
segments are valued appropriately," they add
** Stock up 3.9% YTD after nearly 18% jump last year
(Reporting by Sruthi Shankar in Bengaluru)
((sruthi.shankar@thomsonreuters.com;))