According to a source, Orbitz has hired Goldman Sachs to represent the company in a sales attempt. Orbitz hired Barney Harford as CEO six years ago to turn the company around, and he has managed to recover the stock prices, but Orbitz is still far behind Expedia and Priceline as far as sales are concerned.
After Bloomberg announced on Tuesday that private equity firms were considering buying the company, Orbitz stocks rose 7.7 percent by the afternoon. Other potentially interested parties include Expedia, though if it is entering the final stages of outright purchase of Travelocity, the sale would like be blocked on antitrust grounds, reports say.
Experts say other possible buyers include foreign-held Alibaba or even Amazon.com if the company wanted to quickly expand its new hotel platform within the US.
Full Content: Skift
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Court Order Temporarily Halts U.S. Consumer Financial Protection Bureau Layoffs
Feb 16, 2025 by
CPI
Nokia Poised to Gain EU Approval for $2.3 Billion Infinera Acquisition
Feb 16, 2025 by
CPI
Turkey Fines Frito-Lay in Antitrust Crackdown
Feb 16, 2025 by
CPI
Advances Bill to Strengthen Antitrust Enforcement Through AI
Feb 16, 2025 by
CPI
Intel Faces Potential Breakup as Broadcom and TSMC Explore Deals
Feb 16, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon