Orbitz Worldwide Stockholders Approve Acquisition by Expedia

Orbitz Worldwide (NYSE:OWW) announced that at its annual stockholders meeting today in Chicago, stockholders approved the merger agreement providing for the acquisition of Orbitz Worldwide by Expedia, Inc. (Nasdaq:EXPE). Approximately 74 percent of the shares outstanding voted in favor of the transaction. More than 99 percent of the votes cast were in favor of the transaction.

Expedia, Inc. and Orbitz Worldwide announced their entry into the merger agreement on Feb. 12, 2015, whereby Expedia agreed to acquire all outstanding shares of Orbitz Worldwide at $12 per share. On March 25, the two companies announced that they had each received a request for additional information and documentary material ("second request") from the U.S. 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.