Travel TechnologySignificant changes likely if the deal goes through.

Travelport shareholders to vote on acquisition in March

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Travelport shareholders will vote on the acquisition of the company on March 15.

Last December, Siris Capital Group and Evergreen Coast Capital Corp. said they would acquire Travelport in a US$4.4 billion all-cash deal that includes the assumption of about US$2 billion in debt.

Travelport's board of directors has approved the acquisition and recommended shareholders do the same. 

As part of the agreement, Travelport had a period of time in which it could shop around for other proposals, which it did. That period has ended.

"During the 'go-shop' period, an extensive outreach was conducted by Travelport and Morgan Stanley & Co. acting as Travelport's financial advisor," Travelport said in a statement. "None of the third parties contacted during this process provided a proposal or offer regarding an alternative acquisition proposal."

The acquisition is subject to regulatory approvals. If received, and if shareholders approve the deal, it is expected to close in the second quarter.

Siris Capital Group is a private equity firm focused on investment in technology, data and telecommunications. Evergreen is the private equity affiliate of Elliott Management Corp. Last year, Elliott Associates, Elliott Management Corp.'s flagship fund, acquired a nearly 12% stake in Travelport, divulging that significant changes were likely on the horizon.


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