Cendant Nears Deal to Buy Orbitz Travel Site
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The deal would end a daring experiment by the nation's airlines, which created Orbitz as a competitor to Expedia and online ticketing sites like it.
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New York-based Cendant Corp. Wednesday said it will buy online travel company Orbitz Inc. for $1.25 billion in cash. The real estate and travel services firm will pay $27.
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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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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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NEW YORK -- Cendant has a deal to buy the Orbitz online travel company for about $1.25 billion. The offer, valuing Orbitz shares at $27.
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Amid Cendant&#39;s (Quote, Chart) $1.2 billion Orbitz (Quote, Chart) buy, new entrants are rushing to the intersection of the online industry&#39;s hottest sectors: travel booking and search.
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By nabbing Orbitz in a pricey deal, Henry Silverman&#39;s outfit will now go head-to-head against InterActiveCorp in online travel.
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Shares of Orbitz rocketed 27 percent in after-hours action yesterday on word the online travel site was in talks to be purchased by Cendant for $26 to $28 per share, or more than $1 billion in cash.
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Cendant Corp., the largest US travel and real-estate services company, agreed to buy Ebookers Plc, Europe&#39;s largest Internet travel company, for $404.3 million to increase its Web bookings overseas.
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Travel and real estate heavyweight Cendant Corp.  is nearing a deal to buy online travel site Orbitz Inc. , which is controlled by the top five U.S. airlines, for about &#36;1.2 billion in cash, a source close to the talks said on Tuesday.
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SEPTEMBER 29, 2004 -- New York -- Cendant Corp. today announced it will acquire the online travel agency, Orbitz, in a major consolidation of the web-based travel business.
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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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Cendant, the world&#39;s largest travel group, yesterday continued its buying spree with the $1.1bn (Â£570m) purchase of Gullivers Travel Associates and Octopus.
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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, lodging and real estate  services company Cendant Corp. CD.N on Monday posted higher   earnings in the fourth quarter on a strong performance in the  company's real estate and travel units.
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Cendant Corporation, the travel and property services company that owns Avis and Budget, is in talks to acquire Orbitz.com, an online travel company, in a deal valued at around $1 billion.
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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.