July 19, 2024

Mass. travel agency Tripadvisor announces intent to sell

Mass. travel agency Tripadvisor announces intent to sell

Needham, Mass., founded travel agency Tripadvisor announces intent to sell

The company will sell its outstanding stock

On Monday, Tripadvisor said that it had formed a special committee to evaluate proposals for purchase.Made up of independent directors of the board of directors of Massachusetts-based Tripadvisor, the special committee retained Centerview Partners, LLC, as its financial advisor for a potential transaction.The online travel agency, founded in Needham in 2000, filed a statement with the Securities and Exchange Commission that detailed its intent to sell all outstanding stock. “Any potential transaction would be subject to, among other things, the negotiation and execution of mutually acceptable definitive transaction documents and the approval of the Board, including the approval of the Special Committee,” the company wrote in a statement.Tripadvisor said it does not currently have a buyer lined up and “cautions stockholders and others considering trading in its securities that the Special Committee has not made any decisions with respect to a potential transaction.”

On Monday, Tripadvisor said that it had formed a special committee to evaluate proposals for purchase.

Made up of independent directors of the board of directors of Massachusetts-based Tripadvisor, the special committee retained Centerview Partners, LLC, as its financial advisor for a potential transaction.

The online travel agency, founded in Needham in 2000, filed a statement with the Securities and Exchange Commission that detailed its intent to sell all outstanding stock.

“Any potential transaction would be subject to, among other things, the negotiation and execution of mutually acceptable definitive transaction documents and the approval of the Board, including the approval of the Special Committee,” the company wrote in a statement.

Tripadvisor said it does not currently have a buyer lined up and “cautions stockholders and others considering trading in its securities that the Special Committee has not made any decisions with respect to a potential transaction.”