Tripadvisor Explores Potential Sale, Shares Surge

Tripadvisor has announced the formation of a special committee to evaluate proposals that could lead to a sale, causing its shares to rise by 14.2% in extended trading.

The special committee, composed of independent members of Tripadvisor’s board of directors, will assess any proposals for a potential transaction and consider alternative options for the company’s future.

One of the potential proposals under consideration is linked to Liberty TripAdvisor Holdings Inc.’s disclosure of its intent to explore alternatives involving both Liberty TripAdvisor Holdings Inc. and Tripadvisor.

While emphasizing that no transaction is guaranteed, Tripadvisor stated that the committee has not yet made any decisions regarding a potential deal. Any potential transaction would undergo further scrutiny and require approval from both the board and the special committee.

Tripadvisor is set to release its fourth-quarter and full-year 2023 financial results on Wednesday after the closing bell.