Kayak Software Corp. (KYAK) announced after the bell Thursday that it agreed to be acquired by Priceline.com (PCLN) for $40 per share in cash and stock. The company also reported third quarter non-GAAP EPS of $0.26, which was flat with the prior year result.
Kayak Software has gapped open dramatically higher Friday and is now up 8.41 at $39.45 on above average volume. The stock has surged to an all-time high. Kayak Software began trading for the first time on July 20th.
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