After TripAdvisor (TRIP) announced this morning a deal to acquire Liberty Tripadvisor (LTRPA), BTIG analyst Jake Fuller said the deal “effectively amounts to a buyback with the added benefit that it is super voting shares that it is bringing in.” This transaction will clean up the control structure and Liberty Tripadvisor’s “unwieldy balance sheet” was an impediment to any potential buyer, added the analyst. The firm, which notes that its estimates are under review, has a Buy rating and $20 price target on TripAdvisor shares.
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Read More on TRIP:
- TripAdvisor acquires Liberty TripAdvisor with transaction value of $435M
- TripAdvisor jumps 11% to $14.38 following deal to buy Liberty TripAdvisor
- Tripadvisor Announces Strategic Merger with Liberty Holdings
- TripAdvisor, Liberty TripAdvisor announce planned merger
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