Expedia (EXPE) to Spin-Off TripAdvisor
Tweet
Share
E-mail
Get Alerts EXPE Hot Sheet
Join SI Premium – FREE
Expedia, Inc. (Nasdaq: EXPE) announced Thursday that its Board of Directors has approved a plan to separate into two publicly traded companies, with TripAdvisor becoming its own entity.
TripAdvisor will include the domestic and international operations associated with the TripAdvisor Media Group, while Expedia will continue to include the domestic and international operations of the company's travel transaction brands.
It is anticipated that the transaction will take the form of a distribution of stock of TripAdvisor to Expedia stockholders or a reclassification of Expedia stock, with the holders of Expedia stock receiving a proportionate amount of TripAdvisor stock, in either case in a tax free transaction.
It is expected that Expedia will seek stockholder approval of the transaction.
The spin-off is expected to be completed in the third quarter of 2011. Shares of Expedia are halted in extended trade Thursday, set to reopen at 4:45 p.m. EDT.
TripAdvisor will include the domestic and international operations associated with the TripAdvisor Media Group, while Expedia will continue to include the domestic and international operations of the company's travel transaction brands.
It is anticipated that the transaction will take the form of a distribution of stock of TripAdvisor to Expedia stockholders or a reclassification of Expedia stock, with the holders of Expedia stock receiving a proportionate amount of TripAdvisor stock, in either case in a tax free transaction.
It is expected that Expedia will seek stockholder approval of the transaction.
The spin-off is expected to be completed in the third quarter of 2011. Shares of Expedia are halted in extended trade Thursday, set to reopen at 4:45 p.m. EDT.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Firm Capital Apartment REIT posts Q2 loss, plans name change
- Winnebago Industries extends $350M credit facility to 2031
- Ionis to present olezarsen and ION775 data at ESC Congress 2026
Create E-mail Alert Related Categories
Corporate NewsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
