NEEDHAM,
Mass., Feb. 12, 2024 /PRNewswire/ -- Tripadvisor,
Inc. (NASDAQ: TRIP) ("Tripadvisor") announced the formation of a
Special Committee comprised of independent directors of the Board
of Directors of Tripadvisor (the "Board"). The mandate of the
Special Committee is to evaluate any proposals that may be brought
forward for a potential transaction, and any alternatives thereto,
with regard to Tripadvisor, including those that may arise in the
future as a result of the recent Liberty TripAdvisor Holdings, Inc.
("LTRP") disclosure of its intent to evaluate potential
alternatives involving LTRP and Tripadvisor. The Special
Committee has retained Centerview Partners LLC as its financial
advisor in connection with its evaluation.
There can be no assurance that any transaction will result from
such evaluation, or, if so, the timing, terms and conditions of
such transaction. Any potential transaction would be subject
to, among other things, the negotiation and execution of mutually
acceptable definitive transaction documents and the approval of the
Board, including the approval of the Special Committee. Tripadvisor
does not intend to disclose developments with respect to this
matter unless and until such time as the Special Committee and the
Board determines that such disclosure is appropriate or necessary,
except as required by law or other regulatory requirements.
Tripadvisor cautions stockholders and others considering trading
in its securities that the Special Committee has not made any
decisions with respect to a potential transaction. Nothing in this
communication should be considered a solicitation to buy or an
offer to sell shares of Tripadvisor's common stock.
Stockholders of Tripadvisor need not take any action at this
time.
Safe Harbor Statement
Statements in this press release regarding management's future
expectations, beliefs, intentions, goals, strategies, plans or
prospects, including statements related to any future events or
potential transactions, may constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995 and other federal securities laws. Forward-looking
statements can be identified by terminology such as "anticipate,"
"believe," "could," "estimate," "expect," "intend," "is planned,"
"may," "should," "will," "will enable," "look forward," "may
provide," "would" or similar terms, variations of such terms or the
negative of those terms. Investors are cautioned that statements in
this press release, which are not strictly historical statements,
including, without limitation, strategic investments, and
statements regarding management's plans, objectives and strategies,
constitute forward-looking statements. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors, including, but not limited, uncertainty as to pricing,
timing or terms of any potential proposal or transaction and other
risks, uncertainties and factors detailed in Tripadvisor's filings
with the SEC. As a result of such risks, uncertainties and factors,
Tripadvisor's actual results may differ materially from any future
results, performance or achievements discussed in or implied by the
forward-looking statements contained herein. Tripadvisor is
providing the information in this press release as of this date and
assumes no obligations to update the information included in this
press release or revise any forward-looking statements, whether as
a result of new information, future events or otherwise.
About Tripadvisor, Inc.
The Tripadvisor Group operates
as a family of brands that connects people to experiences worth
sharing, and aims to be the world's most trusted source for travel
and experiences. We leverage our brands, technology, and
capabilities to connect our global audience with partners through
rich content, travel guidance, and two-sided marketplaces for
experiences, accommodations, restaurants, and other travel
categories. The subsidiaries of Tripadvisor, Inc. (Nasdaq:
TRIP), own and operate a portfolio of travel media brands and
businesses, including Tripadvisor, Viator, and TheFork.
TRIP-G
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SOURCE Tripadvisor