Priceline Buy OpenTable : Darren Huston

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Extending its reach into restaurant reservations, online travel giant Priceline Group buy OpenTable for $2.6 billion.

Priceline paid $103 per share in cash, which was 46% premium over OpenTable's Thursday closing price of $70.43.

OpenTable's stock soared 48% to $104.48 Friday. Shares of Priceline were down 3% to $1,189.

OpenTable charges restaurants monthly fees to seat diners who book their reservations online. It has an inventory of more than 31,000 restaurants, and seats more than 15 million diners a month.

"Travelers are diners," Priceline CEO and President Darren Huston said in a conference call with analysts and reporters. "It's the same customers. There's opportunity to cross-promote brands.All Rights Reserved

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Priceline Buy OpenTable For $2.6B: Darren Huston
Mon, Aug 5, 2019

Extending its reach into restaurant reservations, online travel giant Priceline Group buy OpenTable for $2.6 billion.

Priceline paid $103 per share in cash, which was 46% premium over OpenTable's Thursday closing price of $70.43.

OpenTable's stock soared 48% to $104.48 Friday. Shares of Priceline were down 3% to $1,189.

OpenTable charges restaurants monthly fees to seat diners who book their reservations online. It has an inventory of more than 31,000 restaurants, and seats more than 15 million diners a month.

"Travelers are diners," Priceline CEO and President Darren Huston said in a conference call with analysts and reporters. "It's the same customers. There's opportunity to cross-promote brands.

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