|Bid||40.00 x 900|
|Ask||46.48 x 1800|
|Day's Range||44.27 - 44.65|
|52 Week Range||37.20 - 50.82|
|Beta (3Y Monthly)||0.89|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||51.00|
The two media moguls arrange for Expedia to buy its controlling investor, Liberty Expedia in a bid to clean up a complicated ownership structure.
Moody's Investors Service ("Moody's") placed the credit ratings of Expedia Group, Inc. ("Expedia Group") under review for upgrade, including the Ba1 senior unsecured ratings. This rating action follows Expedia's announcement that it plans to acquire Liberty Expedia Holdings, Inc. ("Liberty Expedia").
NEW YORK, April 16, 2019 /PRNewswire/ -- As previously disclosed, Expedia Group, Inc. (EXPE) and Liberty Expedia Holdings, Inc. ("Liberty Expedia") (NASDAQ: LEXEA, LEXEB) announced today that they have entered into a definitive agreement under which Expedia Group has agreed to acquire Liberty Expedia in an all-stock transaction. If the purchase/exchange right is exercised in full, Mr. Diller would have approximately 49% of the voting power of Expedia Group.
The agreement will allow Expedia Group to simplify its corporate structure by acquiring Liberty Expedia Holdings.
Expedia’s super-voting stock structure has long been divided between two billionaire media moguls: John Malone and Barry Diller. Under terms of the deal announced Tuesday, each holder of Liberty Expedia shares will receive 0.36 of a share of Expedia Group common stock. Diller, Expedia chairman, is expected to wind up with about 29 percent of the voting power of the combined company.
Expedia, the online-travel company, said on Tuesday that it will buy out Malone’s Liberty Expedia (tickers LEXEA and LEXEB) in an all-stock transaction valued at $2.6 billion. Shares of Expedia rose 2 percent in early trading, its valuation already benefiting from the idea of having a less convoluted ownership. The move could even herald more deals like it from Malone, who turned 78 last month.
Expedia Group said Tuesday it will buy out Liberty Expedia Holdings in an all-stock deal. Until now, Expedia has been controlled by the investment vehicle run by Expedia Chairman Barry Diller. After the deal, Diller will own approximately 29 percent of Expedia’s voting power. Within several months, Diller has an option to raise his voting […] The post Expedia Chairman Barry Diller Moves to Simplify Corporate Structure appeared first on Skift.
Expedia Group Inc. announced on Tuesday that it has entered into an agreement to acquire the Liberty Expedia Holdings Inc. tracking stock in an all-stock deal. Through the arrangement, holders of Liberty Expedia's class A and class B shares will get 0.36 shares of Expedia's common stock for every Liberty Expedia share. Expedia will retire 3.1 million shares through the process. Expedia will stop being a controlled company after the deal is complete, and Chairman Barry Diller will own about 29% of the company's voting power. Expedia shares are inactive in premarket trading Tuesday. The stock has gained 8% over the past three months, as the S&P 500 has risen 11%.
BELLEVUE, Wash. and ENGLEWOOD, Colo., April 16, 2019 /PRNewswire/ -- Expedia Group, Inc. (EXPE) and Liberty Expedia Holdings, Inc. ("Liberty Expedia") (NASDAQ: LEXEA, LEXEB) announced today that they have entered into a definitive agreement under which Expedia Group has agreed to acquire Liberty Expedia in an all-stock transaction. Liberty Expedia's principal asset is approximately 23.9 million shares of Expedia Group (consisting of 11.1 million shares of Expedia Group common stock and 12.8 million shares of Expedia Group Class B common stock).
The potential buyout of Liberty Expedia Holdings by Expedia Group could set the stage for similar transactions involving two other companies in the Liberty family, Liberty Broadband and Liberty TripAdvisor Holdings.
The big story today is Twitter Inc., which reported better-than-expected financials but spooked investors with its talk of the future.
One JPMorgan analyst thinks Apple should get into video streaming, video gaming, or even smart-home speakers. The deal, if struck, would mean Expedia gets Liberty’s biggest asset, 16% of Expedia stock. Liberty Expedia also holds supervoting stock in Expedia.
Terms of the deal haven’t been negotiated yet, but if successful, the transaction would streamline Expedia’s super-voting stock structure, which has long been divided between two 77-year-old billionaire media moguls: John Malone and Barry Diller. Malone is worth $8.7 billion and chairs Liberty Global, a popular TV and broadband company, while Diller, chairman of Expedia and IAC/InterActiveCorp., has a fortune of $4.7 billion, according to the Bloomberg Billionaires Index.
Expedia Group has kicked off a potentially intriguing negotiation between media moguls Barry Diller, its chairman, and John Malone, chairman of Liberty Expedia Holdings.
Hedge funds and large money managers usually invest with a focus on the long-term horizon and, therefore, short-lived dips on the charts, usually don’t make them change their opinion towards a company. This time it may be different. During the first 6 weeks of the fourth quarter we observed increased volatility and small-cap stocks underperformed […]
Liberty Expedia Holdings, Inc. will be holding its Annual Meeting of Stockholders on Tuesday, June 19, 2018 at 8:00 a.m. M.D.T. at the corporate offices of Liberty Expedia Holdings, Inc., 12300 Liberty Boulevard, Englewood, CO 80112.