Expedia Inc. (EXPE) and Orbitz Worldwide Inc. (OWW) announced that they have each received a request for additional information and documentary material from the U.S. Department of Justice in connection with the DOJ's review of Expedia's pending acquisition of Orbitz.
Issuance of the second request is a standard phase of the regulatory process. Expedia and Orbitz intend to respond to the second request and to cooperate fully with the DOJ.
They believe that this transaction will benefit competition and consumers and are working to help the DOJ complete its review before the end of the year.
In February, Expedia announced a definitive agreement to acquire Orbitz Worldwide, Inc., and Orbitz Worldwide's brands, for $12.00 per share in cash, representing an enterprise value of approximately $1.6 billion.
For comments and feedback contact: editorial@rttnews.com
Business News