Join        Login             Stock Quote

Liberty Interactive (LINTA) Takes Voting Control Of Stake In Tripadvisor (TRIP)

 December 11, 2012 09:40 AM

(By Balachander) Liberty Interactive Corp. (NASDAQ: LINTA) announced it has taken a voting control of its stake in Tripadvisor Inc. (NASDAQ: TRIP).

Liberty has acquired a total of roughly 4.8 million shares of the online travel research company from Barry Diller and The Diller-von Furstenberg Family Foundation at $62.50 apiece.

As part of the deal, Diller's right to control the vote of the shares of TripAdvisor's common stock and Class B common stock that are beneficially owned by Liberty has been terminated and Liberty now controls a majority voting stake in TripAdvisor.

[Related -Futures Mixed Amid Jobless Claims Data, Earnings; Facebook, Inc. (FB) Soars]

Liberty owns and controls around 18.16 million shares of common stock and 12.8 million shares of Class B common stock of TripAdvisor, representing roughly 22 percent of the equity and 57 percent of the total votes of all classes of TripAdvisor common stock.

Following the transaction, Barry Diller resigned as Chairman of the Board of TripAdvisor, but will continue serving as a director of TripAdvisor.

"Ever since we acquired TripAdvisor in 2004 it's been one of the smoothest and most trouble-free growth stories I've ever known," said Diller. "My only reason for resigning as Chairman and disposing of my interests is that I have more obligations than time and transferring control of TripAdvisor to Liberty is something I'm very comfortable with."

[Related -Tripadvisor Inc (TRIP) Acquires Mobile App Gateguru]

Englewood, Colorado-based Liberty Interactive is engaged in video and on-line commerce businesses in North America, Europe, and Asia.

"TripAdvisor is an established leader in the travel industry and our increased investment in the company is a strong addition to our portfolio," said Liberty CEO Greg Maffei.

LINTA shares added 0.52 percent to trade at $19.24 on Tuesday. TRIP shares closed at $38.39 on Monday.



Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageTackling China's Debt Problem: Can Debt-Equity Conversions Help?

China’s high and rising corporate debt problem and how best to address it has received much attention read on...

article imageWill Job Growth Kill The Bear-Market Signal For Stocks?

It’s all about jobs now. Actually, it’s always been about jobs. But the stakes are even higher—perhaps more read on...

article imageAutomating Ourselves To Unemployment

In this current era of central planning, malincentives abound. We raced to frack as fast we could for the read on...

article imageFed: Waiting For June… Or Godot?

The Federal Reserve left interest rates unchanged yesterday, as widely expected. But the possibility of a read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.