HomeAway (AWAY) Stock Soars on Expedia (EXPE) Deal

HomeAway (AWAY) shares were up on Thursday following news of a deal with Expedia (EXPE).

homeaway-expedia-away-expeHomeAway will be acquired by Expedia for $3.9 billion. EXPE will fund the deal with cash and its own stock. It will be paying $10.15 per share and 0.2065 a share of its own stock for outstanding AWAY shares.

The deal between HomeAway and Expedia has already been approved by both companies’ board of directors. The deal still need approval from regulators and the majority of AWAY shareholders before it can be completed.

The deal to acquire HomeAway will include all of its brands and Expedia said it’s had its eyes on the company for a long time. The acquisition of AWAY by EXPE is expected to be completed during the first quarter of 2016.

AWAY shares were up 24% and EXPE shares were up 3% as of Noon Thursday.

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