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UK: Priceline’s patience tested in closing of $1.8B deal

By  |  March 13, 2013
UK: Priceline’s patience tested in closing of $1.8B deal

The closing of a $1.8 billion acquisition of Kayak Software Corp. by Priceline.com Inc. will be delayed due to the Office of Fair Trading’s continuing review of the deal, the online travel agency said in a statement. The company, which has become the most profitable in its market, had originally expected the deal to close by the end of this year’s first quarter; the OFT’s deadline extends into May to rule on the deal. According to reports, Priceline’s buyout is yet another acquisition in its efforts to earn more customers.

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