Liberty TripAdvisor authorizes talks to potentially acquire TripAdvisor

Liberty TripAdvisor Holdings (LTRPA), which owns 29.25M shares of TripAdvisor (TRIP) or 21.1% of the outstanding shares, disclosed that its board of directors authorized the company to engage in discussions with respect to a potential transaction, pursuant to which all of the outstanding stock of the Liberty TripAdvisor and all of TripAdvisor’s outstanding common stock would be acquired concurrently for cash. TripAdvisor’s board has formed a special committee comprised of independent and disinterested directors of the board. The special committee has authorized the company to, among other things, engage in discussions with respect to a potential transaction. Sh ares of TripAdvisor are up 11% to $24.93 in after-hours trading following the disclosure.