Orbitz Worldwide stockholders approve acquisition by Expedia

Orbitz Worldwide announced (27-May-2015) stockholders approved the merger agreement providing for the acquisition of Orbitz Worldwide by Expedia. Approximately 74% of the shares outstanding voted in favor of the transaction. More than 99% of the votes cast were in favour of the transaction. Expedia and Orbitz Worldwide announced their merger agreement in Feb-2015, whereby Expedia agreed to acquire all outstanding shares of Orbitz Worldwide at USD12 per share. On 25-Mar-2015, the two companies announced that they had each received a request for additional information and documentary material from the US Department of Justice (DoJ) as part of the agency's regulatory review. The two companies continue to fully cooperate with the DoJ. The transaction also remains subject to additional customary closing conditions. [more - original PR]