- Associated Press - Friday, July 18, 2014

WILMINGTON, Del. (AP) - A Delaware judge is weighing the proposed settlement of a shareholder lawsuit challenging the $2.6 billion acquisition of online restaurant reservation company OpenTable by online booking service Priceline Group Inc.

According to regulatory filings this week, OpenTable has agreed to make additional disclosures about the deal.

The $103 per share cash price announced June 13 represented a 46 percent premium to OpenTable’s previous day closing price. But shareholders claimed that OpenTable board members breached their fiduciary duties and that the merger price was unfair.

The settlement is expected to be the subject of a hearing on Friday.

Sign up for Daily Newsletters

Copyright © 2019 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide