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June 13, 2014 05:37 pm GMT

Priceline Is Buying OpenTable for $2.6 Billion

Opentable1

Priceline.com is buying restaurant booking service OpenTable for $2.3 billion, the travel company announced Friday, paving the way for a new line of business for the online bidding firm.

The company is offering $103 a share for OpenTable, which is 46% more than its closing price on Thursday. Priceline is hoping to close the deal in the second quarter

See also: If Your Food Told the Brutal Truth

"OpenTable is a great match for The Priceline Group. They provide us with a natural extension into restaurant marketing services and a wonderful and highly-valued booking experience for our global customers," Darren Huston, president and CEO of The Priceline Group said in a statement Read more...

More about Opentable, Business, Priceline, and Work Play

Original Link: http://feeds.mashable.com/~r/Mashable/~3/gRC9ULAduP8/

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