Cendant to buy Orbitz for $1.25B
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Travel and real estate conglomerate Cendant Corp. said Wednesday it will buy travel Web site Orbitz Inc. for about $1.25 billion, making it the No.
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Cendant (CD:NYSE) sewed up a $1.25 billion acquisition of online travel giant Orbitz (ORBZ:Nasdaq), igniting another surge in shares of the airline-owned travel site.
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Orbitz Inc.'s shares surged nearly 31 percent Wednesday on news that Cendant Corp., the owner of the CheapTickets, Days Inn, Avis and Budget brands, had agreed to pay $1.25 billion to acquire the third-largest online travel agency.
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Orbitz Inc.'s shares surged nearly 31 percent yesterday on news that Cendant Corp. , owner of the CheapTickets, Days Inn, Avis, and Budget brands, had agreed to pay $1.25 billion to acquire the third-largest online travel agency.
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Dallas-based Ashford Hospitality Trust Inc. (NYSE: AHT ) is buying a 21-property, 4,094-room hotel portfolio for $250 million, including assumed debt.
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Amid rising use of online travel services, Cendant (Quote, Chart) will pay $1.25 billion in cash for Orbitz , the companies confirmed this morning.
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Cendant, the world&#39;s largest travel group, yesterday continued its buying spree with the $1.1bn (Â£570m) purchase of Gullivers Travel Associates and Octopus.
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Shares of Internet travel firm Orbitz Inc. surged after it agreed to be acquired by Manhattan-based Cendant Corp. for about $1.25 billion.
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The Cendant Corporation is planning to announce today that it will spin off its Wright Express unit in an initial public offering that is expected to raise more than $1 billion.
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Hotel franchisor Cendant Corp. agreed to buy online travel company Orbitz Inc. for about $1.25 billion. The $27.50 a share cash offer, which has been approved by boards of both companies but still needs regulatory
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Orbitz Inc., the Internet travel agency that is being bought by Cendant Corp., Wednesday posted a 30 percent jump in third-quarter profit, aided by a surge in hotel business.
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Cendant, the US travel group which owns Cheaptickets.com, continued to blaze an acquisitive trail yesterday with the agreed $1.1bn (Â£570m) purchase of private UK-based holiday wholesaler Gullivers Travel Associates.
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Cendant, the American travel group that owns car rental shops Avis and Budget, is close to acquiring online travel agency Orbitz.com in a deal said to be worth more than $1 billion.
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Deutsche Telekom AG, Europe's biggest telecommunications company, said Monday it will buy the remainder of SunCom Wireless Holdings Inc. for $1.6 billion in cash.
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Cendant Corp. plans to move its CheapTickets.com division from Arapahoe County to Chicago as part of the travel-industry giant&#39;s planned purchase of Chicago-based Orbitz Inc.
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Two leading names in the travel industry were today bought for Â£1.1 billion dollars (Â£563 million) - the second major UK deal by US giant Cendant this month.
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Ebookers, the travel website, is being sold to US hotel and car rental giant Cendant in a Â£209m deal that means a huge windfall for chief executive Dinesh Dhamija.