BUYOUT OF KAYAK - LAW FIRM SEEKS MORE MONEY FOR SHAREHOLDERS
November 8, 2012
New York, New York -- Tripp Levy PLLC, a leading national securities law firm, announces that it is investigating the acquisition of Kayak Software on behalf of shareholders. It was announced that Priceline Group will acquire Kayak for $40 per share in cash and stock, including $500 million in cash and $1.3 billion in equity and assumed stock options, for a total deal value of $1.8 billion.
The investigation concerns whether the board of directors of Kayak breached their fiduciary duties to shareholders by not engaging in a full and fair auction process of the company so that shareholders could have obtained the maximum value for their shares, while not allowing management of Kayak to obtain personal benefits for themselves in selling the company at this price. Indeed, Kayak has currently no debt on its books and significant cash on hand and has just released strong financial results for its 3Q 2012.
If you are a shareholder of Kayak and would like additional information regarding this matter please contact us toll free at 877-772-3975 or email at contact @ tripplevy
Tripp Levy PLLC is a national law firm that has recovered millions for shareholders around the globe.
I agree. The company has no debt and almost $70 million in cash on its books. That means its not really a $40 buyout but only a $38.30 ($1.70 in cash per share) as Priceline keeps this cash. Also, I don't want stock, I want all cash. I bet Kayak founders are getting themselves a sweetheart deal to sell. Count me in this lawsuit!