Harvard Shows 5.6% Stake in KAYAK Software (KYAK); Allows for Management Talks (PCLN)
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Harvard filed a 13D with the U.S. SEC showing a 254,678 share stake in KAYAK Software (Nasdaq: KYAK). The number amounts to 5.55 percent of all KAYAK outstanding.
From the 13D filing:
"Harvard acquired the Common Stock in the ordinary course of its endowment investing for the purpose of maximizing the risk-adjusted investment return on its endowment funds and other long-term investment assets. Except as otherwise set forth in this Item 4, Harvard does not have any plans or proposals which relate to or would result in any of the actions set forth in parts (a) through (j) of Item 4.
"As the Issuer has entered into a definitive agreement for an extraordinary transaction involving its acquisition by priceline.com Incorporated (Nasdaq; PCLN) pursuant to the terms of that certain Agreement and Plan of Merger dated November 8, 2012 among the Issuer, Priceline and a wholly-owned subsidiary of Priceline, which agreement is subject, among other matters, to approval of the Issuer’s stockholders, Harvard is hereby reporting its ownership of Issuer Common Stock on this Schedule 13D. Depending on market conditions, advancement of the contemplated merger, and other factors bearing at the time upon the value or price of Common Stock, Harvard may in the future take steps to enhance the value of its investment, including steps that would result in any of the actions set forth in parts (a) through (j) of Item 4, and may acquire additional shares of Common Stock or dispose of shares of Common Stock at any time."
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From the 13D filing:
"Harvard acquired the Common Stock in the ordinary course of its endowment investing for the purpose of maximizing the risk-adjusted investment return on its endowment funds and other long-term investment assets. Except as otherwise set forth in this Item 4, Harvard does not have any plans or proposals which relate to or would result in any of the actions set forth in parts (a) through (j) of Item 4.
"As the Issuer has entered into a definitive agreement for an extraordinary transaction involving its acquisition by priceline.com Incorporated (Nasdaq; PCLN) pursuant to the terms of that certain Agreement and Plan of Merger dated November 8, 2012 among the Issuer, Priceline and a wholly-owned subsidiary of Priceline, which agreement is subject, among other matters, to approval of the Issuer’s stockholders, Harvard is hereby reporting its ownership of Issuer Common Stock on this Schedule 13D. Depending on market conditions, advancement of the contemplated merger, and other factors bearing at the time upon the value or price of Common Stock, Harvard may in the future take steps to enhance the value of its investment, including steps that would result in any of the actions set forth in parts (a) through (j) of Item 4, and may acquire additional shares of Common Stock or dispose of shares of Common Stock at any time."
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