No deal: Tripadvisor stock plunges after sale or merger is ruled out for now

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Three months ago, Needham-based travel metasearch company Tripadvisor formed a special M&A committee to evaluate potential suitors. On Wednesday, the committee announced its conclusion: “At this time, there is no transaction with a third party that is in the best interests of the company and its stockholders.”

Tripadvisor made the statement public on Wednesday, in conjunction with its first-quarter earnings release.

As of 10:20 a.m. Wednesday, shares of Tripadvisor were down about 30%, erasing nearly $1 billion in market value. The firm’s market capitalization was about $2.5 billion in morning trading.

More on this story from Boston Business Journal

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