Cendant plans to buy travel website
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CHICAGOâTravel and real estate heavyweight Cendant Corp. yesterday said it will buy travel website Orbitz Inc. for about $1.25 billion (US), making it the second-largest competitor in the online travel industry.
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Orbitz Inc.'s shares surged nearly 31 percent yesterday on news that Cendant Corp. , owner of the CheapTickets, Days Inn, Avis, and Budget brands, had agreed to pay $1.25 billion to acquire the third-largest online travel agency.
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The online travel company said it would buy back more than a third of its outstanding shares, consolidating control by its chairman, Barry Diller.
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Travel and real estate heavyweight Cendant said Wednesday it will buy travel Web site Orbitz for about $1.25 billion, making it the No.
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Travel and real estate heavyweight  Cendant Corp. on Wednesday said it will buy travel Web site  Orbitz Inc. for about $1.25 billion, making it the  second-largest competitor in the online travel industry.
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US hotels and car-hire firm Cendent is to buy UK internet-based holiday company Ebookers for $404m (Â£201.2m).
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Online travel agency ebookers succumbed to a Â£209m bid from American travel and real estate group Cendant yesterday in a move which will see founder, chairman and chief executive Dinesh Dhamija pocket more than Â£92m.
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Cendant is going for growth in online travel.
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Shares of Internet travel firm Orbitz Inc. surged after it agreed to be acquired by Manhattan-based Cendant Corp. for about $1.25 billion.
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The deal, if consummated, would give Cendant the technology it needs to shed its dependence on an aging system and business model that it&#39;s relied upon to distribute airfares and hotel reservations.
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Sabre Holdings Corp. , owner of the Travelocity Web site, on Thursday said it agreed to buy privately held SynXis Corp., a provider of reservation management services to hotels, for &#36;40 million.
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Travelocity takes off as its parent gets bought out.
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Travel and real estate heavyweight Cendant Corp. (CD.N: Quote, Profile, Research) is nearing a deal to buy online travel site Orbitz Inc.
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Thomas G. Woolston  is trying to start an online travel site named uBid Travel. He's negotiating with hotels, brokering partnerships with airlines and making sure the site looks just right.
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Travel and real estate conglomerate Cendant Corp. said Wednesday it will buy travel Web site Orbitz Inc. for about $1.25 billion, making it the No.
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Cendant, the US travel group which owns Cheaptickets.com, continued to blaze an acquisitive trail yesterday with the agreed $1.1bn (Â£570m) purchase of private UK-based holiday wholesaler Gullivers Travel Associates.
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Ebookers, the travel website, is being sold to US hotel and car rental giant Cendant in a Â£209m deal that means a huge windfall for chief executive Dinesh Dhamija.