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Priceline acquisition of Kayak attracts a class-action lawsuit

11/22/2012| 9:45:02 AM| 中文

An unnamed investor in Kayak shares is filing a class-action lawsuit to stop the proposed buyout of Kayak by Priceline at a value of approximately $40 per KYAK share.

An unnamed investor in Kayak shares is filing a class-action lawsuit to stop the proposed buyout of Kayak by Priceline at a value of approximately $40 per KYAK share, according to San Diego-based investor advocacy group Shareholders Foundation.

It’s not uncommon for billion-dollar acquisitions to draw shareholder suits, which rarely scuttle transactions. The Kayak/Priceline transaction is valued at $1.8 billion.

A law firm specializing in shareholder lawsuits, Powers Taylor of Dallas, had been attempting to find investors who might be harmed by the acquisition, but declined to issue a statement. Ditto for The Briscoe Law Firm, another such firm in Texas.

Read full story at: http://www.tnooz.com/2012/11/19/news/kayak-and-priceline-acquisition-attracts-a-class-action-lawsuit/

TAGS: Priceline | acquisition | Kayak
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