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Priceline.com Incorporated (NASDAQ:PCLN) purchases Kayak Software Corporation (KYAK) at $40 per share, or a total amount of $1.8 billion. That price marks a 29 percent bonus to Kayak’s Thursday close. Shares of Expedia (NASDAQ:EXPE) dipped after hours Thursday on the news, but have rebounded today in mid-afternoon trading. Investors might have worried that the direct joining of Priceline’s travel listings and bidding platform with Kayak’s search engine could impact Expedia’s market share. TripAdvisor (NASDAQ:TRIP) shares mirrored those of Expedia, perhaps on worries that the Priceline transaction might put an end to its travel reviews partnership with Kayak.
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Best Buy’s (NYSE:BBY) founder Richard Schulze might offer a lower amount for the company than the $24 to $26 range he suggested in August, says Reuters, as the recent sharp decline in shares fuels investor speculation. If the rumors are accurate, such a bid could value the deal between $8.16 billion and $8.84 billion, or $10.9 billion including debt. An offer is not anticipated before December.
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