UPDATE 4-Elliott, Siris book Travelport on trip back to private markets for $4.4 bln [Reuters]
TRAVELPORT WORLDWIDE LTD (TVPT)
Last travelport worldwide ltd earnings: 2/22 06:45 am
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Source: Reuters
Elliott, Siris book Travelport on trip back to private markets for $4.4 billion | Reuters 4 Min Read (Reuters) - Travelport Worldwide Ltd ( TVPT.N ) said on Monday that buyout firms Siris Capital Group and Elliott Management will take it private for $4.4 billion, ending an eight-month effort by activist investor Elliott to buy the travel software company. Elliott, which has a 12 percent stake in Travelport, pushed the company to explore a sale earlier this year. Reuters had first reported on Dec. 6 that the deal was imminent. The consortium will offer $15.75 per share, a 2.3 percent premium to the company’s closing price on Friday. Travelport, which went public in 2014 after being owned by Blackstone Group ( BX.N ), is allowed to solicit other takeover offers during a “go-shop” provision until Jan. 23. Morningstar analyst Dan Wasiolek recommended in a research note that shareholders reject the “disappointing” offer. Investors appeared to shrug off the prospect of a much higher bid.
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