Priceline-Kayak merger should close on May 21, thanks to regulators’ approval
Now that the merger has the OK, it will be fascinating to watch how the pioneer in user-generated content will be able to best leverage the metasearch operation.
Priceline and Kayak said on Thursday they expect their $1.8 billion merger to close on May 21.
The two companies said they have received all the needed approvals from regulatory agencies.
Norwalk, Conn.-based Priceline.com Inc. announced last November that it would buy competitor Kayak Software Corp. for $1.8 billion in cash and stock.
Kayak, which went public last July, runs a website that lets users compare other travel sites when looking for flights, hotels and rental cars. Customers can book directly on Kayak’s website. Kayak also sends some customers to other websites to complete their purchases and earns fees for those referrals.
Shares of Kayak rose 80 cents to $41.55 in afternoon trading. Shares of priceline.com rose $3.85 to $739.12.
Copyright (2013) Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.