UK Office of Fair Trading Reviewing Proposed Merger of Priceline.com, Kayak
KAYAK Software Corporation (NASDAQ: KYAK) ("KAYAK") and priceline.com Incorporated (NASDAQ: PCLN) ("priceline.com") today announced that the parties have been informed by the UK Office of Fair Trading ("OFT") that the administrative deadline for the OFT's review of the merger of KAYAK with priceline.com is expected to be in May 2013.
The closing of the merger will take place once the remaining conditions to closing (including the receipt of all required regulatory approvals) have been satisfied. KAYAK and priceline.com will announce the closing date of the proposed merger and the election deadline for KAYAK stockholders to specify the type of consideration they wish to receive once those dates have been set. In accordance with the merger agreement, the election deadline will be 5:00 pm on the date that is 5 business days preceding the closing date.
KAYAK stockholders should continue to use the election form previously mailed. If a KAYAK stockholder has already submitted a properly completed election form to the exchange agent and wishes to change the election, that stockholder may resubmit a new, properly completed election form to the exchange agent and the previous election form will be disregarded. KAYAK stockholders who have already submitted an election form and do not wish to make any changes do not need to take any further action and the election form already submitted to the exchange agent will be used. KAYAK stockholders, other than stockholders of record, should contact their bank or broker directly to make their election. KAYAK stockholders who wish to obtain a new election form or have any questions about the election form should contact KAYAK's information agent, Georgeson, at the following address and phone number: 199 Water Street, 26^th Floor, New York, NY 10038, (888) 293-6908 (Toll Free); Banks and Brokerage Firms please call: (212) 440-9800.
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