Re:Priceline.com acquires Kayak for $1.8B
by taumeson on Thursday November 08, 2012 @04:25PM
(#4759929)
Fun fact: Both are located in Norwalk, CT., about a 5-10 minute ride from each other. Priceline is located almost on the Darien border and Kayak is nestled in South Norwalk (SoNo). I gotta believe this proximity lead to board member and executive coziness.
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Re:Priceline.com acquires Kayak for $1.8B
by makmanalp on Thursday November 08, 2012 @04:29PM
(#4759948)
Fun fact #2: Founders are co-founders of travelocity, expedia and orbitz. It's a tightly knit yet competitive biz :)
Re:Priceline.com acquires Kayak for $1.8B
by hluska on Thursday November 08, 2012 @06:16PM
(#4760420)
I can't escape the feeling that that fun fact is why stories like these have hit the wires:
http://zlkdocs.com/KYAK-Info-Request-Form-463
To save you from reading that document, a law firm has decided to 'investigate' whether Kayak's board "breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether priceline.com Incorporated is underpaying for Kayak shares, thus unlawfully harming Kayak stockholders."
Another firm has announced it is conducting another investigation (http://finance.yahoo.com/news/block-leviton-llp-investigates...). Not sure if it relates to whether or not Kayak adequately shopped around the company....
Re:Priceline.com acquires Kayak for $1.8B
by jarek on Thursday November 08, 2012 @06:43PM
(#4760517)
Breach of fiduciary duty lawsuits are very common for all major acquisitions. For the law firm it's high potential reward with relatively little downside. The mere fact of one or two being filed means pretty much nothing.