Expedia to boost liquidity with $3.2 billion capital raise, names new CEO [Reuters]
Expedia Group, Inc. (EXPE)
Last expedia group, inc. earnings: 2/13 04:01 pm
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Source: Reuters
Expedia to raise $3.2 billion in capital to boost liquidity, names new CEO (Reuters) - Expedia Group Inc said on Thursday it was raising $3.2 billion in fresh capital to boost its liquidity, in an effort to ride out a coronavirus-driven collapse in travel demand. The company also named Vice Chairman Peter Kern as its chief executive officer and said it would abandon its dividend, implement furloughs and reduce work-week programs to save cash. Shares of Expedia, which have declined about 43% this year, rose nearly 3% before the bell. The online travel group said private equity firms Silver Lake Partners and Apollo Global Management Inc would invest about $1.2 billion in the company and would have board representation upon the closing of the deal in May. Expedia will also raise about $2 billion in new debt. Travel companies around the world are rushing to shore up finances after a steep fall in demand due to travel restrictions imposed to curb the spread of the coronavirus, which has in
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EXPE
News
- Expedia Stock Gains After Analyst Upgrade Sees Improving U.S. Travel Trends [Yahoo! Finance]Yahoo! Finance
- Expedia Group appoints Scott Schenkel as new finance chief [Seeking Alpha]Seeking Alpha
- Expedia Group Names Scott Schenkel as Chief Financial Officer [Yahoo! Finance]Yahoo! Finance
- Expedia Group Names Scott Schenkel as Chief Financial OfficerBusiness Wire
- Expedia Group, Inc. (NASDAQ: EXPE) was upgraded by analysts at Bank of America Co. from a "neutral" rating to a "buy" rating. They now have a $221.00 price target on the stock, up previously from $187.00.MarketBeat
EXPE
Earnings
- 11/7/24 - Beat
EXPE
Sec Filings
- 12/19/24 - Form 8-K
- 12/3/24 - Form 4
- 11/26/24 - Form 4
- EXPE's page on the SEC website