Latest News
HomeRegional NewsAfricaExpedia completes exchange offer to HomeAway stockholders and acquires HomeAway
Online travel

Expedia completes exchange offer to HomeAway stockholders and acquires HomeAway

The exchange offer to acquire all of the outstanding shares of HomeAway common stock expired at 12:00 midnight, Eastern Standard Time, at the end of December 14, 2015.

BELLEVUE, WASH. – Expedia, Inc. announced yesterday it has completed its acquisition of HomeAway, Inc., including all of its brands.  

“We are thrilled to enter the fast-growing, ~$100 billion alternative accommodations space with HomeAway on our side,” said Dara Khosrowshahi, Chief Executive Officer, Expedia, Inc. “We couldn’t be more excited about the opportunity to create even more robust experiences for our shared global traveler audience and for HomeAway’s homeowners and property managers all around the world.  We have a ton of hard work ahead of us, but the HomeAway team, in line with Expedia’s track record in building first class global transactional platforms, can get us there together faster and more effectively.”

“HomeAway has a very bright future as part of the Expedia family,” said Brian Sharples, Chief Executive Officer of HomeAway, Inc. “We are eager to benefit from Expedia’s distribution and to learn from their expertise in technology and online travel, which will be critical to our success as we move to a marketplace where all of our properties are fully bookable online. This acquisition is the perfect next step on the HomeAway journey and it sets us on a terrific path forward for travelers and our homeowners and property managers alike.”

Exchange Offer Information
The exchange offer to acquire all of the outstanding shares of HomeAway common stock expired at 12:00 midnight, Eastern Standard Time, at the end of December 14, 2015. The depositary for the exchange offer has informed Expedia that a total of 63,068,486 shares of HomeAway common stock, representing approximately 64.8% of HomeAway’s outstanding common stock, were validly tendered and not validly withdrawn pursuant to the exchange offer. All shares that were validly tendered and not validly withdrawn have been accepted for payment in accordance with the terms of the exchange offer and applicable law.

Following its acceptance of the shares tendered in the exchange offer, prior to the open of the financial markets on December 15, 2015, Expedia caused the previously agreed merger of its subsidiary with and into HomeAway, followed by a merger of HomeAway with and into Expedia, with Expedia being the surviving corporation. In connection with the merger, all shares of HomeAway common stock not validly tendered into and accepted in the exchange offer, other than any shares held in treasury by HomeAway or owned by Expedia or its merger subsidiary, have been cancelled and converted into the right to receive merger consideration in the same amounts offered in the exchange offer. As a result of the acquisition, HomeAway shares will cease to be traded on the NASDAQ Global Market.

Co-Founder & Managing Director - Travel Media Applications | Website | + Posts

Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

14/06/2024
13/06/2024
12/06/2024
11/06/2024
10/06/2024