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NZ regulator clears Expedia's takeover of Wotif

Nov. 04, 2014 7:33 AM ETExpedia Group, Inc. (EXPE) StockEXPE, WTIFYBy: Yoel Minkoff, SA News Editor
  • Expedia's (NASDAQ:EXPE) takeover of Wotif.com (OTCPK:WTIFY) received another green light, this time from New Zealand's competition regulator, leaving just one more regulatory hurdle for the A$699M ($610M) deal.
  • "All of the conditions precedent to the scheme of arrangement, save for approval by the Supreme Court of Queensland, have now been satisfied," Wotif.com said in a statement. "A final hearing will be held at the Queensland Supreme Court tomorrow morning."
  • The deal will make it easier for U.S.-based Expedia to grow in Australia and the Asia-Pacific.
  • Previously: Australia approves Expedia's Wotif.com takeover

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