It is a TRIP — Expedia stockholders approve TripAdvisor spinoff
The transaction is expected to close around December 20.
In the Dec. 6 Expedia stockholder vote, shareholders approved the spinoff and the one-for-two reverse stock split.
Expedia says it will reveal the final tallies of the shareholder vote when certified and available, while noting that the count included “a favorable vote by more than a majority of the non-management shares.”
Expedia chairman Barry Diller controls about 61% of Expedia’s voting power.
When the spinoff is complete, Expedia itself won’t own any interest in TripAdvisor, but Diller will be the senior executive and chairman of both Expedia and TripAdvisor and will control both companies.
Dennis Schaal was North American editor for Tnooz.