Edition:
India

Expedia Group To Acquire Liberty Expedia Holdings


Tuesday, 16 Apr 2019 

April 16 (Reuters) - Expedia Group Inc ::EXPEDIA GROUP TO ACQUIRE LIBERTY EXPEDIA HOLDINGS.EXPEDIA GROUP INC - ENTERED INTO A DEFINITIVE AGREEMENT UNDER WHICH EXPEDIA GROUP HAS AGREED TO ACQUIRE LIBERTY EXPEDIA IN AN ALL-STOCK TRANSACTION.EXPEDIA GROUP INC - LIBERTY EXPEDIA'S PRINCIPAL ASSET IS APPROXIMATELY 23.9 MILLION SHARES OF EXPEDIA GROUP.EXPEDIA GROUP - EACH HOLDER OF LIBERTY EXPEDIA SERIES A COMMON STOCK, SERIES B COMMON STOCK WILL RECEIVE 0.360 OF A SHARE OF EXPEDIA GROUP COMMON STOCK.EXPEDIA GROUP INC - EXPECTS TO RETIRE, ON A NET BASIS, APPROXIMATELY 3.1 MILLION SHARES.EXPEDIA GROUP INC - BOARDS OF DIRECTORS OF BOTH COMPANIES APPROVED TRANSACTION.EXPEDIA GROUP - JOHN C. MALONE, CHAIRMAN OF BOARD OF LIBERTY EXPEDIA, HIS WIFE HAVE AGREED TO VOTE SHARES BENEFICIALLY OWNED BY THEM IN FAVOR OF DEAL..EXPEDIA GROUP-COMPANIES EXPECT DEAL TO CLOSE IN SUMMER 2019, AT WHEN ALL LIBERTY EXPEDIA NOMINEES TO EXPEDIA GROUP BOARD OF DIRECTORS WOULD STEP DOWN..EXPEDIA GROUP - FORMER LIBERTY EXPEDIA COMMON STOCK HOLDERS TO OWN SHARES OF CO REPRESENTING ABOUT 14% SHARES OF CO'S COMMON STOCK, CLASS B COMMON STOCK.EXPEDIA GROUP - CHAIRMAN BARRY DILLER EXPECTED TO EXCHANGE UP TO 5.7 MILLION SHARES OF CO'S COMMON STOCK FOR EQUAL NUMBER OF SHARES OF CLASS B COMMON STOCK.EXPEDIA GROUP - DILLER WILL OWN ABOUT 29% OF VOTING POWER OF COMPANY, AND CO WILL NO LONGER BE A CONTROLLED COMPANY UNDER APPLICABLE NASDAQ RULES.