orbitz
Expedia, Inc. Completes Acquisition of Orbitz Worldwide, Inc.
Expedia, Inc. | September 17, 2015
BELLEVUE, Wash., Sept. 17, 2015 -- Expedia, Inc. (NASDAQ: EXPE) today announced that it has completed its acquisition of Orbitz Worldwide, Inc., including all of its brands and assets, for US$12.00 per share in cash, representing an enterprise value of approximately US$1.6 billion. With the completion of the transaction, Orbitz Worldwide, Inc. stock is no longer being traded on the New York Stock Exchange. "We are pleased to welcome Orbitz Worldwide to our family of leading travel brands," said Dara Khosrowshahi, Expedia, Inc. Chief Executive Officer. "Our mission is to revolutionize travel through the power of technology. Given Orbitz'...
AH&LA Disappointed by DOJ Approval of Expedia-Orbitz Deal
AH&LA | September 17, 2015
Deal Restricts Consumer Choice, Hurts Small Hotel Owners, Results in Duopoly Washington, D.C. – September 17, 2015 – The American Hotel & Lodging Association (AH&LA) issued the following statement on the Department of Justice's approval of the proposed acquisition of Orbitz by Expedia. "We are disappointed with today's announcement by the Department of Justice (DOJ) to approve the proposed acquisition of Orbitz by Expedia. Simply put, this decision will hurt consumers and small business owners, and remove choice from the marketplace. "By approving this deal, only two players control the online marketplace: Priceline and the ...
Lodging-Related Groups Send Letter to DOJ Opposing Expedia’s Acquisition of Orbitz
AH&LA | August 11, 2015
Washington, D.C. – Tuesday, August 11, 2015 – The American Hotel & Lodging Association (AH&LA), the sole national association representing all segments of the 1.8 million-employee lodging industry, today applauded the dozens of small hotels and independent properties, state associations and other lodging-related groups who sent a letter to the Department of Justice urging the Department to block Expedia's proposed acquisition of Orbitz. The letter argues that consumer choice could be jeopardized, competition could steeply drop, and small and independent hotels could suffer from the anticompetitive effects of the consolidated...
AH&LA Proclaims Opposition to Expedia’s Proposed Acquisition of Orbitz
the American Hotel & Lodging Association (AH&LA) | August 6, 2015
AH&LA Says Transaction Would Create Duopoly, Restrict Consumer Choice, Harm Small, Independent Hotel Owners Washington, D.C. – Thursday, August 6, 2015 – The American Hotel & Lodging Association (AH&LA), the sole national association representing all segments of the 1.8 million-employee lodging industry, today announced its opposition to the pending Expedia-Orbitz combination currently being reviewed by the Department of Justice. Katherine Lugar, president and CEO of AH&LA issued the following statement: "Today, the American Hotel & Lodging Association is announcing its opposition to the proposed acquisition of O...
Klobuchar, Lee Call on Department of Justice to Closely Scrutinize Orbitz-Expedia Merger
July 30, 2015
Online travel agencies serve an important role in encouraging a competitive market for airlines, hotels, and rental cars and provide consumers with an efficient way to compare prices; This easy access to comparison shopping has encouraged companies to provide the lowest advertised price, benefitting consumers and encouraging tourism and travel In a letter to the Department of Justice, the senators said increased consolidation among online travel agencies could transform a market that has benefited consumers into one that stifles competition and urged the department to carefully review the merger WASHINGTON, DC – July 30, 2015 – U.S....
Expedia to Acquire Orbitz Worldwide for $12 Per Share in Cash, or Approximately $1.6 Billion
Expedia, Inc. | February 12, 2015
BELLEVUE, Wash. and CHICAGO, Feb. 12, 2015 -- Expedia, Inc. (NASDAQ: EXPE) announced it has entered into a definitive agreement under which it will acquire Orbitz Worldwide, Inc. (NYSE: OWW), including all of Orbitz Worldwide's brands, for $12.00 per share in cash, representing an enterprise value of approximately $1.6 billion, and a premium of approximately 29% over the volume weighted average share price for the five trading days up to and including February 11, 2015. The Boards of Directors of both companies have approved the transaction, which is subject to approval by the shareholders of a majority of Orbitz Worldwide's common stoc...
