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US: FTC approves Kayak, Priceline’s $1.8B merger

By  |  January 8, 2013

The Federal Trade Commission has reportedly granted permission for Priceline to acquire Kayak for $1.8 billion. The two travel research websites had agreed to merge last November; the deal will go through at $40 a share of Kayak in addition to $500 million in cash and $1.3 billion in equity and stock options paid by Priceline. In a statement, Priceline’s CEO said the company is looking to “be helpful with Kayak’s plans to build a global online travel brand.” Kayak’s CEO expressed similar approval of the deal. When first announced by the companies in November, the two had expected the deal to close by the end of the first quarter of 2013.

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