TripAdvisor jumps on planned acquisition of its controlling shareholder

Trip.com

19/12/2024 12:45

** Shares of TripAdvisor  TRIP.O  rise 8% to ~$14 premarket 
    ** Tripadvisor to buy its controlling shareholder, Liberty
TripAdvisor Holdings  LTRPA.PK , in merger agreement
    ** TRIP views the transaction as effectively a repurchase of
the Tripadvisor common stock held by Liberty TripAdvisor
    ** The implied share price for the acquisition of TRIP
shares from Liberty Tripadvisor is $16.21, totaling about $435
million
    ** Upon merger, TRIP plans to retire about 27 million shares
of Tripadvisor common stock currently held by Liberty
TripAdvisor
    ** The transaction is expected to close in the second
quarter of 2025

 (Reporting by Aishwarya Jain in Bengaluru)
 ((Aishwarya.Jain@thomsonreuters.com;))