Cendant Buys Two Leading Names in Travel Industry
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Two leading names in the travel industry were today bought for Â£1.1 billion dollars (Â£563 million) - the second major UK deal by US giant Cendant this month.
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Cendant Corp. plans to move its CheapTickets.com division from Arapahoe County to Chicago as part of the travel-industry giant&#39;s planned purchase of Chicago-based Orbitz Inc.
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Cendant (CD:NYSE) sewed up a $1.25 billion acquisition of online travel giant Orbitz (ORBZ:Nasdaq), igniting another surge in shares of the airline-owned travel site.
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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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Cendant Corp., which owns Days Inn hotels and Avis Rent A Car Systems Inc., agreed to buy the UK&#39;s Gullivers Travel Associates and Octopus Travel Group Ltd.
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Two private equity firms will buy Sabre Holdings Corp. , owner of the Travelocity hotel and flight-booking Web site, for $4.45 billion as they look to profit from a boom in travel services.
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MyTravel and Thomas Cook will combine in a deal to create a more cost-competitive European-based travel company, the companies said. The new company will retain the Thomas Cook name, one of the oldest established brands in the travel industry. KarstadtQuelle, the German retailer that owns Thomas Cook and a department store chain, will hold a 52 percent stake in the combined group. MyTravel, which is based in London, will hold the rest. The combined company, which will be based in London and listed on the London Stock Exchange, will be called the Thomas Cook Group.
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Shares of Orbitz (ORBZ) jumped more than 25% in after-hours trading Tuesday on reports that the travel and real estate company Cendant (CD) is close to an agreement to buy the online travel site for about $1.
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The firm has built a strong product offering for travel expense management.
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Cendant Corp  on Friday said it  has agreed to sell its travel services division to an affiliate  of the Blackstone Group for about &#36;4.3 billion in cash.
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eBookers, one of Europe&#39;s leading travel website is up for grabs. Cendant, the world&#39;s largest travel group, is expected to announce a deal to buy the internet travel site at $145 mn or more.
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U.S.-Norwegian Royal Caribbean Cruises    has agreed to buy Spain's biggest cruise and  tour operator, Pullmantur S.A., for 700 million euros ($898.5  million), sending its shares sharply higher on Thursday.
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Cendant Corp., the world&#39;s largest hotel franchiser and owner of the Avis car-rental company, said Wednesday it agreed to purchase Orbitz, a popular Internet travel agency, for $1.
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Travel and real estate company Cendant Corp. (CD.N: Quote, Profile, Research) is close to an agreement to buy online travel site Orbitz Inc.
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Cendant Corp., the world&#39;s largest hotel franchiser, agreed to buy Internet travel agency Orbitz Inc. for $1.25 billion to sell more travel packages online.
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Cendant, the American travel group that owns car rental shops Avis and Budget, is close to acquiring online travel agency Orbitz.com in a deal said to be worth more than $1 billion.
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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.