Tripadvisor Gains Nearly 14% Following Takeover Interest Disclosure

GuruFocus.com

24 Jan

Tripadvisor (TRIP, Financials) stock surged 13.9% on Thursday, closing at $17.93, up $2.19 from the previous day, after Liberty TripAdvisor Holdings (LTRPA, Financials) revealed interest from a third-party bidder to acquire both companies.

Made in a U.S. Securities and Exchange Commission filing, the revelation detailed the bidder's recent attempts at a significant premium to land a contract.

Originally approaching Tripadvisor in October 2024 with a non-binding offer of $17.50 per share in cash, subject to due diligence and other normal conditions, the unidentified biddercalled "Party 7"in the file first contacted Party 7 extended their offer to include Liberty TripAdvisor on January 17, 2025, intending to buy Tripadvisor shares not held by Liberty for $18-$19 per share, a 14-21% premium over Wednesday's closing price of $15.74. With preferred stock valued at $102 million, Liberty TripAdvisor common shares sold for $0.3080 apiece.

Concurrent with this deal intended to streamline its ownership structure, Tripadvisor is working on acquiring Liberty TripAdvisor's 27 million shares of Tripadvisor stock. Although it complicates these initiatives, the third-party proposal has not changed Tripadvisor's priorities.

The board of TripAdvisor deliberated on the offer earlier this week, but after legal advice, the special committee decided against further interaction with the bidder citing issues around shareholder value.

This article first appeared on GuruFocus.

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With preferred stock valued at $102 million, Liberty TripAdvisor common shares sold for $0.3080 apiece.\nConcurrent with this deal intended to streamline its ownership structure, Tripadvisor is working on acquiring Liberty TripAdvisor's 27 million shares of Tripadvisor stock. Although it complicates these initiatives, the third-party proposal has not changed Tripadvisor's priorities.\nThe board of TripAdvisor deliberated on the offer earlier this week, but after legal advice, the special committee decided against further interaction with the bidder citing issues around shareholder value.This article first appeared on \nGuruFocus.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}