Priceline.com Inc (PCLN) and Kayak Software Corp (KYAK) has gotten been cleared for landing their merger. The two companies said that all of the necessary regulatory approvals have been obtained and they closing date of the proposed merger of KAYAK and Priceline.com is scheduled for May 21, 2013.
Priceline.com has announced that they will be acquiring KAYAK in a stock and cash transaction worth $1.8 billion. This deal values KAYAK’s stock at $40 per share. Priceline.com will be paying $500 million of the consideration in cash and $1.3 billion in equity and assumed stock options.
Priceline.com Incorporated (NASDAQ:PCLN)? co-inventor Jay S. Walker is suing Facebook over patent infringement through his company Walker Digital LLC. “We believe this suit is completely frivolous and we will fight it vigorously,” stated Facebook spokesman Andrew Noyes. The patent covers the ability for computer users to establish anonymous communications. The complaint claims that three Walker Digital employees had invented a system that allows people to manage and control release of personal information. Walker is the chairman of Walker Digital. The case is filed as Walker Digital LLC v. Facebook Inc., U.S. District Court, 10cv1026, District of Delaware (Wilmington). The patent in question is 5,884,271. [BusinessWeek]
The stock price of Priceline.com has substantially increased since 10 years ago when the Internet company signed William Shatner to endorse their brand.
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