Norwalk, Conn. - The Priceline Group Inc. has successfully completed its previously announced tender offer to purchase all outstanding shares of common stock of OpenTable Inc. for $103 per share in cash. The all-cash transaction is valued at $2.6 billion.
The Priceline Group expects to complete the acquisition of OpenTable on July 24 through a merger. As a result of the merger, all remaining eligible OpenTable shares will be converted into the right to receive $103 per share in cash. OpenTable shares will cease to be traded on the Nasdaq Global Market. OpenTable will continue to be headquartered in San Francisco and will operate as an independent business led by its current management team within The Priceline Group.