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Wednesday, October 1, 2014

Australia clears Expedia's $610 million takeover, (NASDAQ: EXPE)

Australia's antitrust regulator on Thursday cleared online travel giant Expedia Inc to purchase smaller local rival Holdings Ltd for A$699 million ($610 million). The Australian Competition and Consumer Commission (ACCC), which had earlier raised concerns about the deal, said the acquisition was unlikely to diminish the dynamic nature of the online accommodation distribution market. (1 US dollar = 1.1456 Australian dollar)

Expedia, Inc. (Expedia), is an online travel company. Shares of EXPE fell by 3.24% or $-2.84/share to $84.78. In the past year, the shares have traded as low as $47.26 and as high as $89.26. On average, 1729620 shares of EXPE exchange hands on a given day and today's volume is recorded at 2530973.