Settlement eyed in Priceline buyout of OpenTable
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.
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