PRLog - Jan. 7, 2013 - SAN DIEGO -- An investor in shares of Kayak Software Corp (NASDAQ:KYAK)
Investors who purchased shares of Kayak Software Corp (NASDAQ:KYAK)
The plaintiff alleges that the defendants breached their fiduciary duties owed NASDAQ:KYAK stockholders by agreeing to sell the company too cheaply via an unfair process to Priceline.com Incorporated.
On November 8, 2012, Priceline.com Incorporated announced that it has signed an agreement for the Priceline Group to acquire Kayak Software Corp in a stock and cash transaction. Under the terms of the agreement, the transaction values Kayak Software Corp at $1.8 billion ($1.65 billion net of cash acquired) or approximately $40 per share of Kayak Software Corp , with the Priceline Group paying approximately $500 million of the consideration in cash and $1.3 billion in equity and assumed stock options.
However, the plaintiff claims that the offer is unfair to NASDAQ:KYAK stockholders and undervalues the company. Indeed, Kayak Software Corp (NASDAQ:KYAK)
Furthermore, the plaintiff alleges that the process is unfair to NASDAQ:KYAK stockholders as well.
Those who are current investors in Kayak Software Corp (NASDAQ:KYAK)