TripAdvisor jumps on planned acquisition of its controlling shareholder
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;))