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UK: Priceline passes review of Kayak buyout

 |  May 9, 2013

Online travel site Priceline has announced that UK regulators have completed their review of the buyout of Kayak after the overview had previously delayed completion plans; the merger will not be referred to the Competition Commission. The deal, set for $1.8 billion, was first announced last November and had originally been scheduled for completion in the first quarter of 2013. Now, with the Office of Fair Trading’s approval of the deal, the parties set a date of May 21 to close the deal. According to reports, the OFT likely initiated a review after discovering that 82 percent of Priceline’s gross sales were made outside of its US home base.

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