What Happened: TripAdvisor has formed a committee of independent directors from its board to evaluate any proposals regarding a potential transaction, including those that may arise in the future as a result of the recent Liberty TripAdvisor Holdings’ disclosure of intent to evaluate potential alternatives involving Liberty TripAdvisor and TripAdvisor.

There can be no assurance that any transaction will result from the evaluation. TripAdvisor does not intend to disclose developments until the board determines that a disclosure is appropriate or necessary.

TripAdvisor is set to report fourth-quarter earnings after the market close on Wednesday. The company is expected to report earnings of 22 cents per share and revenue of $374.44 million, according to estimates from Benzinga Pro.

See Also: Analyst Sees ‘Improving’ Short-Term Rental Market Ahead Of Earnings: What You Need To Know

TRIP Price Action: TripAdvisor shares were up 11.8% after hours at $25 at the time of writing, according to Benzinga Pro.

Photo: Benzinga Editorial Assets.