Sabre acquires remaining Travelocity shares - TravelMole


Sabre acquires remaining Travelocity shares

Tuesday, 09 Apr, 2002 0

Sabre has been successful in its $491million bid to acquire the Travelocity shares it did not already own.

It has increased its ownership from 70% to around 96% of Travelocity stock, after upping its initial bid of $23 and offering shareholders $28 per share. Sabre only needed to acquire 90% of the company to take the travel website back into private ownership.

In a statement the company said it now expects to complete a “short-form” merger in which Travelocity will become a wholly owned Sabre company. Completion of the merger is expected on April 11.

See our previous story:
19 Mar 2002: Sabre increases bid for remaining Travelocity shares



 



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