Expedia Inc (EXPE.O) Key Developments | Reuters.com
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Expedia Inc (EXPE.O)

EXPE.O on Nasdaq

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24 Jun 2016
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Latest Key Developments (Source: Significant Developments)

Expedia Inc - Germany orders Booking.com to scrap anti-competitive clause - Reuters
Wednesday, 23 Dec 2015 12:24am EST 

Expedia Inc:Germany's antitrust regulator has ordered that online travel agent Booking.com must scrap a practice that forbids hotels from offering rooms at lower prices on their own websites. - RTRS.So-called parity clauses in contracts between online booking sites and hotels are common in the industry and have led to complaints by rivals and scrutiny by regulators across Europe - RTRS.The practice allows online travel agents such as Booking.com, part of U.S.-based Priceline Group PCLN.O, to claim that they always offer the cheapest online rates available. Germany's Federal Cartel Office said the clause violates fair competition rules. - RTRS.In a concession to regulators, Booking.com eased its policy in December 2014, allowing hotels to offer lower prices on rival portals but not on their own websites. The cartel office said that this was still illegal. - RTRS."These so-called narrow best-price clauses still limit competition between existing portals as well as competition between the hotels," Andreas Mundt, the cartel office's president, said in a statement on Wednesday - RTRS.The regulator said that its investigation into similar practises at rival Expedia EXPE.O was ongoing. A German court also backed a competition authority's decision that such clauses at HRS were illegal. - RTRS.  Full Article

Expedia Announces Proposed Private Offering of Senior Notes
Tuesday, 1 Dec 2015 09:02am EST 

Expedia, Inc:Says that it is commencing a private offering of senior unsecured notes (the "Notes"), subject to market and other conditions.If offering is consummated, Expedia expects to use net proceeds from offering to fund a portion of cash consideration payable in connection with proposed acquisition of HomeAway, Inc. and/or refinance existing HomeAway indebtedness and for other general corporate purposes.There can be no assurance that the issuance and sale of the Notes will be consummated.  Full Article

HomeAway agrees to acquisition by Expedia Inc
Wednesday, 4 Nov 2015 04:03pm EST 

HomeAway Inc:Entered into a definitive agreement under which Expedia, Inc has agreed to acquire HomeAway, including all of its brands, for an equity value of about $3.9 billion in cash and Expedia common stock.Under the terms of the transaction, Expedia will offer to acquire each outstanding share of common stock of HomeAway in exchange for $10.15 in cash and 0.2065 of a share of Expedia common stock.Under the terms of the transaction, Expedia will acquire each outstanding share of common stock of HomeAway through a tender offer, followed by a second-step merger.Boards of Directors of both companies unanimously approved the transaction.  Full Article

Expedia Inc completes acquisition of Orbitz Worldwide, Inc.
Thursday, 17 Sep 2015 08:58am EDT 

Expedia Inc:Says that it has completed its acquisition of Orbitz Worldwide, Inc., including all of its brands and assets, for $12.00 per share in cash, representing an enterprise value of about $1.6 billion.With the completion of the transaction, Orbitz Worldwide, Inc. stock is no longer being traded on the New York Stock Exchange.  Full Article

Expedia Inc reaffirms FY 2015 EBITDA outlook - Conference Call
Wednesday, 3 Jun 2015 02:30pm EDT 

Expedia Inc:Says it is guided to 10 to 15% FY 2015 adjusted EBITDA growth for the whole business, excluding eLong and exclude eLong.  Full Article

Expedia Inc announces senior notes due 2022-Form 8-K
Wednesday, 3 Jun 2015 03:36am EDT 

Expedia Inc:Entered into an underwriting agreement with BNP Paribas, Goldman Sachs & Co and J.P. Morgan Securities plc and the additional underwriters and the subsidiaries party thereto.Itis pursuant to which the underwriters agreed to purchase from the company 650 million Euros aggregate principal amount of 2.500 pct senior notes due 2022.On June 3 the company completed the sale of the notes.The net proceeds from the sale of the notes, after underwriting discounts and commissions and estimated offering expenses, were about $700.2 million.The company intends to use the net proceeds from the sale of the Notes to fund a portion of the cash consideration payable in connection with the company’s proposed acquisition of Orbitz Worldwide, Inc. and for other general corporate purposes.  Full Article

Expedia Inc announces pricing of senior notes offering
Thursday, 28 May 2015 06:19am EDT 

Expedia Inc:Agrees to sell 650 mln Euros aggregate principal amount of 2.500 pct senior notes due 2022.Says offering of notes is expected to close on June 3.Expects to use net proceeds from offering to fund portion of cash consideration payable in connection proposed acquisition of Orbitz Worldwide, Inc.BNP Paribas, Goldman, Sachs & Co, J.P. Morgan Securities plc, Merrill Lynch International, Mizuho International plc and RBC Europe Limited are the joint book-running managers of the offering.HSBC Bank plc, Mitsubishi UFJ Securities International plc, SMBC Nikko Capital Markets Limited, Barclays Bank plc and U.S. Bancorp Investments, Inc. are the co-managers of the offering.  Full Article

Expedia Inc announces proposed offering of senior notes
Thursday, 28 May 2015 04:02am EDT 

Expedia Inc:Says that it is commencing offering of euro-denominated senior unsecured notes, subject to market and other conditions.Says that if the offering is consummated, Expedia expects to use net proceeds from offering to fund portion of cash consideration payable in connection with its previously announced proposed acquisition of Orbitz Worldwide, Inc. and for other general corporate purposes.Says that there can be no assurance that issuance and sale of notes will be consummated.Says BNP Paribas, Goldman, Sachs & Co, J.P. Morgan Securities plc, Merrill Lynch International, Mizuho International plc and RBC Europe Limited are joint book-running managers of offering.Says HSBC Bank plc, Mitsubishi UFJ Securities International plc, SMBC Nikko Capital Markets Ltd, Barclays Bank plc and U.S. Bancorp Investments, Inc. are co-managers of offering.  Full Article

Expedia Inc increases ownership in AirAsia-Expedia joint venture
Tuesday, 17 Feb 2015 12:39am EST 

Expedia Inc:Says that it has entered into an agreement with AirAsia Berhad to purchase an additional 25 pct. equity interest of AAE Travel Pte. Ltd., the joint venture formed between the two companies in 2011, for cash consideration of $86.3 million.This investment will increase Expedia's total ownership in the joint venture to 75 pct.  Full Article

Expedia Inc to acquire Orbitz Worldwide
Thursday, 12 Feb 2015 08:05am EST 

Expedia Inc:Enters into a definitive agreement under which it will acquire Orbitz Worldwide, Inc, including all of Orbitz Worldwide's brands, for $12.00 per share in cash, representing an enterprise value of about $1.6 bln.Premium of about 29 pct over the volume weighted average share price for the five trading days up to and including Feb. 11.  Full Article

BRIEF-Expedia expands size of board from 13 to 14 members

* On June 21, 2016, board expanded size of board from thirteen to fourteen members