Exhibit (a)(5)(K)
Expedia, Inc. Announces Final Results of Modified “Dutch Auction"
Tender Offer
BELLEVUE, Washington, August 15, 2007 — Expedia, Inc. (NASDAQ: EXPE) today announced the final
results of its modified “Dutch auction” tender offer for up to 25 million shares of its common
stock, which expired at 5:00 p.m., New York City time, on August 8, 2007.
Expedia has accepted for purchase 25,000,003 shares of its common stock at a purchase price of
$29.00 per share, including “odd lots” properly tendered and not properly withdrawn at or below the
$29.00 per share purchase price, for a total cost of approximately $725 million, excluding fees and
expenses relating to the tender offer. Expedia is borrowing $500 million under its existing credit
facility to fund a portion of the purchase price for the shares and will use cash on hand for the
remainder of the purchase price and to pay related fees and expenses. The shares accepted for
purchase represent approximately 8.9% of the shares of common stock outstanding and 8.2% of the
total number of shares of common stock and Class B common stock outstanding as of August 3, 2007.
The 25,000,003 shares accepted for purchase include the 25,000,000 shares that Expedia offered to
purchase plus three shares, as to which Expedia exercised its right to purchase additional shares
in accordance with applicable securities laws, to permit proper rounding in the calculation of the
proration factor. Expedia has been informed by the depositary for the tender offer that the final
proration factor for the tender offer is 84.2385%.
Based on the final count by the depositary for the tender offer (and excluding any conditional
tenders that were not accepted due to the specified condition not being satisfied), 29,725,349
shares of common stock were properly tendered and not properly withdrawn at prices at or below the
purchase price of $29.00.
The depositary will promptly issue payment for the shares accepted for purchase in the tender
offer. Any shares properly tendered and not withdrawn, but not purchased due to proration or
conditional tenders, will be returned promptly to stockholders by the depositary.
The information agent for the tender offer is MacKenzie Partners, Inc. and the depositary for the
tender offer is The Bank of New York. For questions and information, please call the information
agent toll-free in the United States and Canada at 1-800-322-2885, and in all other countries at
+1-212-929-5500.
About Expedia
Expedia, Inc. is the world’s leading online travel company, empowering business and leisure
travelers with the tools and information they need to easily research, plan, book, and experience
travel. Expedia, Inc. also provides wholesale travel to offline retail travel agents. Expedia,
Inc.’s portfolio of brands includes: Expedia.com®, hotels.com®, Hotwire®, Expedia® Corporate
Travel, TripAdvisor® and Classic Vacations®. Expedia, Inc.’s companies also operate internationally
with sites in Australia, Canada, Denmark, France, Germany, Italy, Japan, the Netherlands, Norway,
Spain, Sweden, the United Kingdom, and China, through its investment in eLong™. For more
information, visit http://www.expediainc.com/ (NASDAQ: EXPE).
Contact:
MacKenzie Partners, Inc.
United States and Canada: 1-800-322-2885
All other countries: +1-212-929-5500
Expedia and Expedia.com are either registered trademarks or trademarks of Expedia, Inc. in
the U.S. and/or other countries. Other logos or product and company names mentioned herein may be
the property of their respective owners.
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Communications |
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press@expedia.com |
© 2007 Expedia, Inc. All rights reserved. CST 2029030-40.