Priceline to Buy Kayak for $40 Per Share
"We're excited to join the world's premier online travel company. The Priceline Group's global reach and expertise will accelerate our growth and help us further develop as a company," said teve Hafner, Kayak Chief Executive Officer and Cofounder, in a statement.
Kayak's initial public offering was only a few months ago on July 20. The company's stock priced at $26 per share in its IPO.
Kayak's stock traded around the $40 price offer in after-hours trading Thursday after news broke about its acquisition.