Expedia To Acquire Orbitz Worldwide In Deal Worth Enterprise Value Of $1.6 Bln

(RTTNews) - Expedia, Inc. (EXPE) announced Thursday a definitive agreement to acquire Orbitz Worldwide, Inc. (OWW), and Orbitz Worldwide's brands, for $12.00 per share in cash, representing an enterprise value of approximately $1.6 billion. The offered amount represents a premium of approximately 29% for the five trading days up to and including February 11, 2015.

The Board of Directors of Orbitz Worldwide received a fairness opinion from Qatalyst Partners and has recommended that its stockholders vote in favor of the merger.

Expedia noted that the acquisition will help deliver best-in-class experiences to an even wider set of travelers all over the world.