HomeAway to Be Acquired by Expedia for $3.9 Billion
On November 4, 2015, leading travel company Expedia and global vacation rental website HomeAway announced that they have entered into a definitive agreement under which Expedia has agreed to acquire HomeAway—including all of its brands—for an equity value of approximately $3.9 billion in cash and Expedia common stock, representing a per-share price for HomeAway shares of $38.31, based on Expedia's closing price on November 3. Wilson Sonsini Goodrich & Rosati is advising HomeAway in the transaction.
Under the terms of the agreement, Expedia will offer to acquire each outstanding share of common stock of HomeAway in exchange for $10.15 in cash and 0.2065 of a share of Expedia common stock. The transaction has been approved by the companies' boards of directors and is expected to close in the first quarter of 2016, subject to customary closing conditions, including regulatory approvals and the tender of a majority of the outstanding shares of HomeAway common stock.
The WSGR team representing HomeAway in the transaction includes:
Employee Benefits & Compensation:
Real Estate & Environmental:
For more information, click here to read the companies' joint press release.