OpenTable's Stock Spikes Following Priceline Purchase News
Skift Take
Priceline has more room to go up or down than any of its online booking peers.
The Priceline Group announced this morning that it would acquire hotel reservation and customer service relationship platform OpenTable for $2.6 billion.
Priceline will pay OpenTable $103 per share in an all-cash deal, a 46% premium over its closing share price June 12.
The stock closed today at $104.43, 48% over its closing share price the previous day.
Here is a look at both Priceline and OpenTable's stock over the last five days. Despite the decline, Priceline is still the largest travel company by market cap.
OpenTable Stock
OPEN Price data by YCharts
Priceline Stock
PCLN Price data by YCharts
Photo Credit: OpenTable's stock performance over the last month. yCharts
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