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Priceline books $2.6B OpenTable deal

Jun 13, 2014 - The Deal Pipeline
Mergers and Acquisitions

Online booking company Priceline Group Inc. is adding to its portfolio of services with the $2.6 billion acquisition of OpenTable Inc., announced Friday.

Priceline CEO Darren Huston called OpenTable "a natural extension" of its group of brands in a Friday call with investors.

The transaction values OpenTable at $103 per share, a 46% premium the prior close. Shares of the target jumped $33.28, or 47%, to $103.71 on Friday morning, brushing past Priceline's bid.

Priceline stock...