© Reuters. Tripadvisor (TRIP) forms a special committee to assess potential deals, shares jump
Tripadvisor (TRIP) announced it has established a special committee within its board to assess potential transactions or alternative strategies.
According to the press release, the committee, comprised of independent directors, will review any forthcoming proposals.
The company’s shares surged over 12% following the closing bell on Monday.
This initiative follows the announcement by its parent company, Liberty Tripadvisor Holdings, regarding its exploration of different options for the company.
“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,” the travel site operator said in the announcement.
The Special Committee has retained Centerview Partners LLC as its financial advisor to assist in its evaluation process.