Tripadvisor rules out a merger for now
An independent board committee has determined that at this time, there is no transaction with a third party that is in the best interests of the company and its stockholders
Skift reported that private equity firm Apollo Global Management was a likely suitor. There was speculation about whether other bidders were involved either in partnership with Apollo or independently.
Key takeaways
- Tripadvisor is without a deep-pocketed partner for now;
- Commenting about the lack of a merger in the works, Tripadvisor CEO Matt Goldberg said during the first quarter earnings call the company won’t become distracted and will continue to deliver on its multiyear transformation plans;
- One option is to proceed with a spinoff of Viator into a separate public company. It had earlier plans to consider it, but it hadn’t been a priority before the buyout talks.
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