Online travel agency Expedia Inc said it would purchase rival Orbitz Worldwide for about $1.33 billion, as it looks to increase its customers base in a highly competitive industry. Expedia's offer of $12.00 per share in cash represents a premium of 24.7 percent to Orbitz's Wednesday close.
Expedia, Inc. is an online travel company. The Company's portfolio of travel brands featuring supply portfolio including more than 260,000 hotels in 200 countries, 400 airlines, packages, rental cars, cruises, as well as destination services and activities. Shares of EXPE traded higher by 0.04% or $0.03/share to $78.22. In the past year, the shares have traded as low as $66.93 and as high as $92.08. On average, 1997680 shares of EXPE exchange hands on a given day and today's volume is recorded at 2015770.
Orbitz Worldwide, Inc. is a global online travel company (OTC) that uses technology to enable leisure and business travelers to research, plan and book a range of travel products and services. Shares of OWW traded higher by 4.57% or $0.42/share to $9.62. In the past year, the shares have traded as low as $6.49 and as high as $10.52. On average, 1538340 shares of OWW exchange hands on a given day and today's volume is recorded at 4614520.
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