Online travel agency priceline.com Inc. (PCLN) said Monday that shareholders of KAYAK Software Corp. (KYAK) have voted overwhelmingly to approve the adoption of the previously announced merger agreement between KAYAK, priceline.com and Produce Merger Sub Inc., a wholly owned subsidiary of priceline.com.
The closing of the merger will take place once the remaining conditions to closing, including the receipt of all required regulatory approvals, have been satisfied.
In November, priceline.com Iagreed to buy Kayak Software in a $1.8 billion cash and stock deal. The deal values Kayak at $40 per share.
Kayak, which went public in July 2012, is a travel research site that allows people to easily compare hundreds of travel sites at once when searching for flights, hotels and rental cars, and gives travelers choices on where to book.
by RTT Staff Writer
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