A majority of Travelport shareholders Friday gave the requisite go-ahead to the publicly traded company's proposed acquisition by a private equity partnership.
In what is likely to be its final publicly filed earnings statement before it goes private, Travelport reported a 4 percent year-over-year decline in worldwide global distribution system segments and a modest rise in net revenue and earnings for the three months ending Dec. 31, 2018.
Publicly traded global distribution system operator Travelport has agreed to be taken private by Siris Capital Group and Evergreen Coast Capital, which plan to buy outstanding common shares for $15.75 each and assume Travelport's debt in a deal valued at $4.4 billion, the company announced Monday.
In the run-up to Travelport's agreement last month to go private with Siris Capital Group and Evergreen Coast Capital, 10 different "financial sponsors" and five "strategic parties" emerged as potential suitors for the global distribution system operator or its assets.
The number of full-time employees at global distribution system operator Travelport fell nearly 8 percent to 3,700 at year-end 2018 from 4,000 at the end of 2017, according to disclosures in the company's two most recent annual reports.