Despegar.com to be acquired by Prosus for $19.50 per share in cash

Despegar.com (DESP) announced that it has entered into a definitive merger agreement to be acquired by Prosus (PROSY) for $19.50 per share in an all cash transaction, representing an enterprise value of approximately $1.7B for Despegar. The transaction price represents a premium of approximately 34% over the volume weighted average price of Despegar’s share price for the 90 trading days ending on December 20. Despegar’s Board of Directors has approved the Agreement and has resolved to recommend that Despegar shareholders vote in favor of the adoption of the Agreement and the approval of the merger contemplated thereby. The transaction is currently expected to close in Q2 2025, subject to the approval of Despegar’s shareholders, the receipt of required regulatory clearances, and other customary closing conditions.