Skift Take
U.S. government approval was a foregone conclusion since there really weren't any material antitrust issues, and this sets the stage, pending other approvals, for a more pitched battle with Expedia, which has taken majority control of Trivago in Germany.
Priceline.com Inc has won U.S. antitrust approval to buy Kayak Software Corp., the Federal Trade Commission said on Tuesday.
The acquisition, announced in early November, is valued at $1.8 billion.
The deal was one of several on a list of approved transactions that the FTC issues several times a week. The listing is put out by the FTC, but the approvals could come from either that agency or the Justice Department.
Kayak, which offers a website and mobile applications to help consumers compare prices for airlines, hotels and rental cars, went public in July with shares priced at $26. It operates like a search engine, letting consumers compare pricing along with other websites such as Priceline.com rivals Expedia Inc and Orbitz Worldwide Inc.
Priceline, which is known for its name-your-own-price auction, has the largest market capitalization of online travel agencies.
Kayak will be operated independently under the leadership of its current management, which includes company co-founders Steve Hafner and Paul English, Priceline said in November.
Copyright (2013) Thomson Reuters. Click for restrictions
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