Thursday, February 12, 2015

Expedia Buys Orbitz For $1.6 Billion

Bellevue-based Expedia said this morning that it is buying Chicago-based online travel site Orbitz, in a deal worth approximately $1.6 billion. Expedia said it will pay $12.00 per share in cash for publicly held Orbitz. Expedia said the price is a premium of approximately 29 percent over Orbitz' volume weighted average share price for the five trading days up to and including February 11, 2015. Expedia has been in a very acquisitive mood so far this year--having already agreed to buy another, online travel site, Travelocity, two weeks ago in a $280M deal.