Summary
Expedia, Inc. announced the completion of its acquisition of Orbitz Worldwide, Inc. on September 17, 2015. The merger, initially announced in February 2015, involved Expedia's subsidiary, Xeta, Inc., merging with Orbitz. Orbitz will continue as an indirect wholly owned subsidiary of Expedia. This strategic move consolidates Expedia's position in the online travel market by integrating Orbitz's brands and customer base.
Key Highlights
- 1Expedia has successfully completed the acquisition of Orbitz Worldwide, Inc. as of September 17, 2015.
- 2The transaction was structured as a merger where Orbitz became an indirect wholly owned subsidiary of Expedia.
- 3Each share of Orbitz common stock was acquired for $12.00 in cash.
- 4This acquisition marks a significant consolidation within the online travel industry.
- 5Expedia's press release on the same date provides further details about the completion of the merger.
Frequently Asked Questions
The main event reported is the completion of Expedia's acquisition of Orbitz Worldwide, Inc. through a merger.
Each share of Orbitz common stock was purchased for $12.00 in cash.
This acquisition likely aims to strengthen Expedia's market position in the online travel sector by expanding its portfolio of brands and customer reach, leading to potential synergies and increased market share.
The merger agreement was previously filed as Exhibit 2.1 to Expedia's Form 8-K on February 13, 2015, and is incorporated by reference in this filing.