Topic: How To Invest

Spinoffs, Takeovers and Special Situations Hotline – Friday, January 4, 2019

Article Excerpt

TRAVELPORT WORLDWIDE LTD., $15.40, symbol TVPT on New York, based in Langley, near London in the U.K., provides business-to-business distribution and payment technology to connect airlines, hotels and similar companies with travel agents and booking websites. It also offers ticketing to airlines as well as shopping services, which are an increasingly important revenue generator for most airlines. New York-based activist investor Elliott Management acquired a 12% stake in the travel company in early March 2018 and began pushing for changes to boost shareholder value. That could include the sale or spinoff of Travelport’s eNett payment unit—or even the outright sale of the company. A bid for Travelport has now been received and on December 10, the company announced it has accepted a $4.4 billion buyout offer from Elliott Management and Siris Capital, a New York-based private equity firm. The deal is for $15.75 a share, and is expect to close by mid-2019. The successful completion of the sale would mark the second time…