TripAdvisor, Liberty TripAdvisor announce planned merger

Tripadvisor (TRIP) (“Tripadvisor”) and Liberty TripAdvisor (LTRPA) Holdings (LTRPA, LTRPB) announced that they have entered into an agreement and plan of merger whereby Tripadvisor will acquire Liberty TripAdvisor. In connection with the Merger, (i) the shares of Liberty TripAdvisor Series A Common Stock and Series B Common Stock issued and outstanding immediately prior to the effective time of the Merger will be converted into the right to receive $0.2567 per share in cash, totaling approximately $20M in the aggregate; (ii) all of the shares of Liberty TripAdvisor’s 8% Series A Cumulative Redeemable Preferred Stock issued and outstanding immediately prior to the effective time of the Merger will be converted into the right to receive, in the aggregate, $42,471,000 in cash, without interest, and 3,037,959 validly issued, fully paid and non-assessable shares of Tripadvisor common stock; and (iii) Liberty TripAdvisor’s 0.50% Exchangeable Senior Debentures of approximately $330 million will be repaid in accordance with their terms. The transaction is expected to close in the second quarter of 2025.