Expedia-HomeAway Merger: Will Another Company Jump In To Steal the Deal?
Photo Caption: CNBC host Jim Cramer (top, upside down) added to speculation that TripAdvisor, Priceline, or even Yahoo could swoop in and steal HomeAway from Expedia. (From left) are Stephen Kaufer of TripAdvisor, Darren Huston of the Priceline Group and Marissa Mayer of Yahoo.
Skift Take
Wall Street is buying up HomeAway's stock with the thinking that a new bidding war with Expedia could take hold, but that's unlikely. From HomeAway CEO Brian Sharples' comments, it seems likely that some kind of sales process -- and obviously a serious vetting of the deal -- already took place.
The odds are low that a third company would jump in and try to steal HomeAway from Expedia Inc., but there's speculation out there that a company such as the Priceline Group could enter the fray.
[Update: Priceline has ruled itself out of the competition, if there indeed is one.]
The cash and stock deal has Expedia paying the equivalent of roughly $38 per share in the $3.9 billion agreement, and HomeAway's stock was trading at $39.82 late afternoon on November 5, a day after the deal announcement.
In a research note, Piper Jaffray raised its price target for HomeAway's stock to $42, from $39, "given we believe there is still potential for another bi
