Key Developments: Priceline Com Inc (PCLN.O)
801.12USD
24 May 2013
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$803.60
$797.65
$804.18
$795.55
437,817
704,049
$847.33
$553.42
Latest Key Developments (Source: Significant Developments)
Priceline.com Inc and Kayak Software Corp Announce Completion Of Merger
Priceline.com Inc and Kayak Software Corp announced the completion of the acquisition of KAYAK by priceline.com. In accordance with the terms of the transaction as previously announced, KAYAK merged with and into a wholly-owned subsidiary of priceline.com. Priceline.com paid approximately $522.4 million in cash and issued approximately 1,519,717 shares of common stock in connection with the merger, in addition to assuming outstanding KAYAK stock options. Full Article
Priceline.com Inc Issues Q2 2013 Guidance Below Analysts' Estimates-Conference Call
Priceline.com Inc announced that for the second quarter of 2013, it expects revenue to grow year-over-year by approximately 15% to 22%, adjusted EBITDA to range between $560 million and $595 million, non-GAAP fully diluted EPS of approximately $8.87 to $9.45 per share and GAAP EPS of $7.87 to $8.45 per share. The Company reported revenue of $1.327 billion in the second quarter of 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $1.64 billion, EPS of $9.58 and EBITDA of $613 million for the second quarter of 2013. Full Article
Priceline.com Inc And Kayak Software Corp Review Of Proposed Merger By UK Office Of Fair Trading
Kayak Software Corp and Priceline.com Inc announced that the parties have been informed by the UK Office of Fair Trading (OFT) that the administrative deadline for the OFT's review of the merger of KAYAK with priceline.com is expected to be in May 2013. Full Article
Priceline.com Inc Issues Q1 2013 Guidance In Line With Analysts' Estimates-Conference Call
Priceline.com Inc announced that for first quarter of 2013, it expects revenue to grow year over year by approximately 17% to 24%, GAAP earnings per share (EPS) in the range of $4.12 to $4.52 and non-GAAP fully diluted EPS of approximately $4.90 to $5.30 and adjusted EBITDA is to a range between $316 million and $346 million. The Company reported revenue of $1.037 billion in first quarter of 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $1.23 billion, EPS of $5.16 and EBITDA of $329 million for first quarter of 2013. Full Article
Priceline.com Inc Agrees To Acquire KAYAK Software Corp
Priceline.com Inc announced that it has signed a definitive agreement for the Priceline Group to acquire KAYAK Software Corp (KAYAK) in a stock and cash transaction. Under the terms of the agreement, the transaction values KAYAK at $1.8 billion ($1.65 billion net of cash acquired) or $40 per share of KAYAK (subject to the collar described below), with the Group paying approximately $500 million of the consideration in cash and $1.3 billion in equity and assumed stock options. The Boards of Directors of the Priceline Group and KAYAK have unanimously approved the transaction, which is subject to customary closing conditions, including a vote of KAYAK's shareholders and regulatory approvals, and is expected to close by late 1st quarter 2013. KAYAK's current management team will continue to manage KAYAK's operations independently as part of the Priceline Group of companies. The Group expects that the impact of the KAYAK acquisition on Non-GAAP EPS in 2013 will be de minimis. Full Article
Priceline.com Inc Issues Q4 2012 Guidance In Line With Analysts' Estimates-Conference Call
Priceline.com Inc announced that for the fourth quarter of 2012, it expects revenue to grow year-over-year by approximately 15% to 22%, adjusted EBITDA to range between $381 million and $421 million, GAAP EPS of $5.39 to $5.84 per share and non-GAAP fully diluted EPS of approximately $6.12 to $6.57 per share. The Company reported revenue of $990.77 million in fourth quarter of 2011. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $1.142 billion, EBITDA of $403 million and EPS of $6.34 for the fourth quarter of 2012. Full Article
Priceline.com Inc Announces Chairman Change
Priceline.com Inc announced that Jeffery H. Boyd, President and Chief Executive Officer, will assume the additional role of Chairman of the Board, effective January 1, 2013. Mr. Boyd will succeed Ralph M. Bahna, who will retire from the Chairman's role on January 1, 2013, and intends to retire from the Board in June of 2013, when his current term ends. Full Article
Priceline.com Issues Q3 2012 Guidance Below Analysts' Estimates-Conference Call
Priceline.com announced that for third quarter of 2012, it expects revenue to grow year over year by approximately 9%-15% and non-GAAP fully diluted earnings per share (EPS) to be approximately $11.10-12.10. The Company reported revenue of $1.452 billion in third quarter of 2011. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $1.753 billion and EPS of $12.48 for third quarter of 2012. Full Article
Priceline.com Issues Q2 2012 Guidance Below Analysts' Estimates
Priceline.com announced that for second quarter of 2012, it expects year-over-year revenue growth by approximately 18%-23% and GAAP EPS to be $6.34-$6.54. The Company reported revenue of $1.102 billion in second quarter of 2011. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $1.384 billion and EPS of $6.68 for second quarter of 2012. Full Article
Priceline.com Announces Pricing Of $875 Million Private Offering Of Convertible Senior Notes And Common Stock Repurchase
Priceline.com announced that it has priced the $875 million principal amount of Convertible Senior Notes due 2018 through a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The notes will pay interest semiannually at a rate of 1.0% per annum. Priceline.com estimates that the net proceeds from the offering of notes will be approximately $856.5 million, after deducting estimated fees and expenses. To the extent the initial purchasers sell more than $875 million principal amount of the notes, priceline.com granted the initial purchasers an option to purchase up to $125 million principal amount of additional notes at any time prior to March 31, 2012, solely to cover over-allotments. Priceline.com plans to use the net proceeds from the offering of the notes to repurchase approximately $166 million of its outstanding common stock in privately negotiated, off-market transactions, which may be effected through one or more of the initial purchasers of the notes or their respective affiliates, concurrently with the offering. The net proceeds will also be used for general corporate purposes, which may include repurchasing shares of priceline.com common stock in the open market or in privately negotiated transactions from time to time, repaying outstanding debt and corporate acquisitions. The sale of the notes and the repurchase of the shares of common stock are expected to close on March 12, 2012. Full Article
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