Cendant Corporation Completes Acquisition of Orbitz, Inc.
2004年11月13日 - 5:42AM
PRニュース・ワイアー (英語)
Cendant Corporation Completes Acquisition of Orbitz, Inc. NEW YORK,
Nov. 12 /PRNewswire-FirstCall/ -- Cendant Corporation (NYSE:CD)
announced today the successful completion of its previously
announced acquisition of Orbitz, Inc. for a fully diluted equity
value of approximately $1.25 billion or approximately $1 billion
net of acquired cash. Cendant acquired Orbitz through cash tender
offers for $27.50 per share and a subsequent merger of an indirect
wholly-owned subsidiary with and into Orbitz. As a result of the
merger, any outstanding shares of common stock not validly tendered
and accepted for payment in the tender offers were converted into
the right to receive $27.50 per share in cash, without interest.
Mellon Investor Services, the depositary for the tender offers,
will mail to non- tendering stockholders materials to be used to
exchange Orbitz stock certificates for such payment. Orbitz shares
will be delisted from Nasdaq and cease trading at the close of
business today. "The acquisition of Orbitz is strategic on many
fronts," noted Samuel L. Katz, chairman and CEO, Cendant Travel
Distribution Services Division (Cendant TDS). "The utilization of
Orbitz technology in concert with our other online assets, such as
CheapTickets.com and Travelport, will benefit our leisure travelers
and corporate clients through the employment of new technologies,
enhanced content and ease of use. Cendant TDS supplier partners
will have access to one of the largest and most diverse
distribution portfolios provided by a single source, including
access to nearly 30 million global unique monthly Web site visitors
and 44,000 travel agency locations." About Cendant Travel
Distribution Services Cendant's Travel Distribution Services
Division is one of the world's largest and most geographically
diverse collections of travel brands and distribution businesses.
The division, employing nearly 5,000 people in more than 116
countries, includes: Galileo, a leading global distribution system
(GDS), serving more than 44,000 travel agencies and over 60,000
hotels; hotel distribution and services businesses (TRUST, THOR,
WizCom and Neat Group); leading online travel agencies (Orbitz.com,
CheapTickets.com, Lodging.com, HotelClub.com and RatesToGo.com);
Shepherd Systems, an airline market intelligence company;
Travelwire, an international travel technology and software
company; Travel 2/Travel 4, a leading international provider of
long-haul air travel and travel product consolidator; and corporate
travel solutions, Travelport and Orbitz for Business. About Cendant
Corporation Cendant Corporation is primarily a provider of travel
and residential real estate services. With approximately 90,000
employees, New York City-based Cendant provides these services to
businesses and consumers in over 100 countries. More information
about Cendant, its companies, brands and current SEC filings may be
obtained by visiting the Company's Web site at
http://www.cendant.com/ or by calling 877-4INFOCD (877-446-3623).
Statements about the expected effects on Cendant of the acquisition
of Orbitz, statements about the expected timing, certainty and
scope of the acquisition and all other statements in this release
other than historical facts are forward-looking statements.
Forward-looking statements include information about possible or
assumed future financial results and usually contain words such as
"believes," "intends," "expects," "anticipates," "estimates", or
similar expressions. These statements are subject to risks and
uncertainties that may change at any time, and, therefore, actual
results may differ materially from expected results due to a
variety of factors. We caution investors not to place undue
reliance on the forward-looking statements contained in this press
release. These statements speak only as of the date of this press
release, and we undertake no obligation to update or revise the
statements, risks or reasons. All forward-looking statements are
expressly qualified in their entirety by this cautionary statement.
DATASOURCE: Cendant Corporation CONTACT: Cendant Media Relations -
Kate Sullivan of Cendant Travel Distribution Services Division,
+1-973-496-4540, Elliot Bloom of Cendant Corporation,
+1-212-413-1832, or Jacqueline Chen of Ogilvy Public Relations
Worldwide, +1-212-880-5335; or Cendant Investor Relations - Sam
Levenson, +1-212-413-1832, or Henry A. Diamond, +1-212-413-1920 Web
site: http://www.cendant.com/
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