Tripadvisor (NASDAQ: TRIP) Announces Agreement with Liberty TripAdvisor Holdings, Inc. Regarding Merger

Tripadvisor, Inc. has disclosed a significant agreement with Liberty TripAdvisor Holdings, Inc. in an 8-K filing submitted to the Securities and Exchange Commission on December 18, 2024. The agreement outlines a strategic merger plan between Tripadvisor and Liberty TripAdvisor Holdings, Inc.

According to the agreement, Tripadvisor, a Delaware corporation, Liberty TripAdvisor Holdings, Inc., also a Delaware corporation, and Telluride Merger Sub Corp., a Delaware corporation and an indirect wholly-owned subsidiary of Tripadvisor, have formed an Agreement and Plan of Merger. This merger agreement involves the merger of Merger Sub with LTRP, with LTRP surviving as a wholly-owned subsidiary of Tripadvisor. Additionally, LTRP, holding approximately 21.0% of Tripadvisor’s outstanding common stock, will merge into TellurideSub LLC, a direct wholly-owned subsidiary of Tripadvisor.

As part of the merger agreement, each share of LTRP’s Series A and Series B common stock will be converted into $0.2567 per share in cash. Furthermore, outstanding options and cash awards under LTRP Stock Plans will be addressed in light of the merger. The transaction also involves the repayment of LTRP’s 0.50% Exchangeable Senior Debentures of approximately $330 million.

The completion of the merger is subject to various conditions including approval by stockholders and governmental regulations. The termination rights, representations, warranties, and covenants by all parties involved have been outlined in the agreement.

For additional details regarding the merger agreement and the various transactions described within, the full 8-K filing with the SEC is available for review on the agency’s website.

Alongside this filing, Tripadvisor and LTRP have jointly issued a press release on December 19, 2024, detailing the proposed merger. An investor presentation dated December 19, 2024, has also been provided, furnishing further insights into the intended merger details.

Please note that the information in the 8-K filing should be reviewed in its entirety for a comprehensive understanding of the merger specifics and implications.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Tripadvisor’s 8K filing here.

Tripadvisor Company Profile

TripAdvisor, Inc operates as an online travel company, primarily engages in the provision of travel guidance products and services worldwide. The company operates in three segments: Brand Tripadvisor, Viator, and TheFork. The Brand Tripadvisor segment offers travel guidance platforms for travelers to discover, generate, and share authentic user-generated content in the form of ratings and reviews for destinations, points-of-interest, experiences, accommodations, restaurants, and cruises.