Tripadvisor shares jump after it forms new committee to weigh 'a potential transaction'

By Bill Peters

Shares of Tripadvisor Inc. jumped after hours on Monday, after the travel-services platform said it had formed a special committee to consider "any proposals that may be brought forward for a potential transaction."

Tripadvisor's stock (TRIP) was up 10.9% in after-hours trading.

"The mandate of the Special Committee is to evaluate any proposals that may be brought forward for a potential transaction, and any alternatives thereto, with regard to Tripadvisor," the company said in a statement.

Such potential proposals "include those that may arise in the future as a result of the recent Liberty TripAdvisor Holdings Inc. ("LTRP") disclosure of its intent to evaluate potential alternatives involving LTRP and Tripadvisor."

Liberty TripAdvisor Holdings is a controlling stockholder of TripAdvisor. The special committee is made up of independent directors, and has tapped Centerview Partners as its financial advisor.

Tripadvisor said that no transaction was guaranteed, and that the committee "has not made any decisions with respect to a potential transaction."

"Stockholders of Tripadvisor need not take any action at this time," its statement said.

-Bill Peters

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02-12-24 1638ET

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