Social Media and Marketing
Expedia shares gain on Google takeover talk: report
Shares of online travel agency Expedia Inc gained 5.18 percent to $7.71 on Tuesday on talk that the company might be a takeover target for Google Inc., according to Reuters.
Published: 18 Mar 2009
Shares of online travel agency Expedia Inc gained 5.18 percent to $7.71 on Tuesday on talk that the company might be a takeover target for Google Inc., according to Reuters.
Google declined to comment on the speculation.
In the stock options market, Expedia's volume of calls, which give buying rights to the company's shares, has been heavy. Near midday, 7,958 calls traded, nearly 23 times the norm, according to option analytics firm Trade Alert.
Earlier this month, Expedia chief executive Dara Khosrowshahi noted that consolidation is less likely while credit markets remain so tight in the economic recession.
“Right now, access to capital markets is essentially nil and consolidation typically requires capital,” Khosrowshahi reportedly said.
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