Expedia shareholders to gain from spinoff: report

Reuters News
|
Posted: Dec 11, 2011 3:48 PM

NEW YORK (Reuters) - Shares of TripAdvisor, the largest Internet travel site, will likely trade well after the business is spun off from Expedia, Barron's financial newspaper said in its Dec 12 edition.

TripAdvisor's revenue has grown about 30 percent lately and some investors are valuing its post-split shares at more than $35, compared with $27.91 seen in the "when issued" market, Barron's said in its Streetwise column.

When-issued refers to provisional trading before securities are issued.

Expedia shareholders will own all of TripAdvisor's shares after the spin-off. Expedia said last week stockholders had approved the spin-off and it expected to close on the transaction around Dec 20.

(Reporting by Dena Aubin; Editing by Diane Craft)