© Reuters. Apollo and TripAdvisor (TRIP) in early talks over a potential acquisition – report
Apollo Global Management (NYSE:) Inc. is reportedly considering making an offer for TripAdvisor (NASDAQ:), a travel information service provider, according to Bloomberg.
TripAdvisor, which operates under the umbrella of John Malone’s Liberty Media, has engaged financial advisers in response to the acquisition interest, although these discussions remain confidential.
The talks between Apollo and TripAdvisor are reportedly in preliminary stages, and they may not result in an agreement.
TRIP shares rose 1.8% on Wednesday and are up around 29% year-to-date.
Factoring in net debt, the Needham, Massachusetts-based company, is estimated to have a valuation of around $3.5 billion, based on Bloomberg’s compiled data.
TripAdvisor recently set up a special committee to prepare for potential acquisition proposals. This move came after the company’s board gave the green light to engage in discussions about a possible sale.
