Wotif Sells To Expedia for $703 million

Online travel agent Wotif looks to have stitched up a deal to sell its entire operation to global giant Expedia for AUD703 million, or AUD3.30 a share. Company directors and co-founders, Graeme Wood and Andrew Brice, who between them control 35% of Wotif stock, support the deal, making a counter-bid unrealistic and therefore unlikely. (Check back for a detailed analysis later today).

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