On Monday, Shares of Paypal Holdings Inc (NASDAQ:PYPL), gained 3.13% to $35.61.
PayPal, Inc. (PYPL) and Xoom Corporation (XOOM), declared that PayPal has accomplished its formerly declared acquisition of Xoom. In accordance with the terms of the acquisition agreement declared on July 1, 2015, PayPal attained all of the outstanding shares of Xoom for $25 per share in cash.
Xoom will operate as a separate service within PayPal under the continued leadership of John Kunze, who has joined PayPal’s executive staff and will report to PayPal CEO Dan Schulman.
Xoom is a secure, fast and affordable way to send money to, and pay bills for, family and friends around the world, using a mobile phone, tablet or computer. With Xoom, PayPal has access to 1.5 million active U.S. customers that sent about $7.1 billion in the 12 months ending on September 30, 2015 to people in 40 countries such as Mexico, India, the Philippines, China and Brazil. Beyond its global reach, Xoom has a loyal, mobile-savvy customer base, with 97 percent of its payment volume coming from repeat users and 60 percent of its active users on mobile.
PayPal Holdings, Inc. operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. It enables businesses of various sizes to accept payments from merchant Websites, mobile devices, and applications, in addition to at offline retail locations through a range of payment solutions across company’s payments platform, counting PayPal, PayPal Credit, Venmo, and Braintree products.
Shares of Liberty Global plc (NASDAQ:LBTYK), declined -2.16% to $42.64, during its last trading session.
Liberty Global plc and Cable & Wireless Communications Plc, declared a recommended offer (the “Offer”) by Liberty Global for all outstanding and to be issued shares of CWC. Following the Offer, Liberty Global would acquire CWC for shares of Liberty Global in a scheme of arrangement valuing CWC at a total equity value of about £3.5 billion ($5.3 billion)1, or an implied price of 78.04 pence per CWC share, based on closing share prices as of November 13, 2015. Further, CWC shareholders would be entitled to receive a special dividend in the amount of 3.00 pence per share at the closing of the transaction, which would be in lieu of any formerly declared CWC dividend.
The consideration of 81.04 pence per CWC share represents a purchase price multiple of 10.7x CWC’s adjusted LTM September 30, 2015 EBITDA (on a proportionate basis), after taking into consideration the unrealized2 cost synergies resulting from CWC’s acquisition of Columbus International (“Columbus”). We believe that there are incremental financial benefits over and above the $125 million of total run-rate cost synergies that have been publicly quantified by CWC with respect to the Columbus acquisition, and we expect to derive additional synergies as a result of the combination of our LiLAC operations with CWC. We cannot provide an estimate of the total incremental synergies at this time because a quantified financial benefits statement is required under the U.K. Takeover Code, which has not been prepared at this time. On a pro-forma basis, we expect the combined group of CWC and LiLAC to deliver low double-digit rebased OCF growth over the medium term.
Under the terms of the Offer, Liberty Global will issue a maximum of about 31.7 million LBTYA, 77.5 million LBTYK, 3.6 million LILA and 8.9 million LILAK ordinary shares3. In addition, Liberty Global will assume CWC’s existing proportionate net debt as part of the transaction, which was $2.7 billion as of September 30, 2015. We expect that the dividend and estimated fees and expenses will be funded from CWC liquidity counting incremental debt borrowings and LiLAC Group liquidity.
Liberty Global plc, together with its auxiliaries, provides video, broadband Internet, fixed-line telephony, and mobile services in Europe, Chile, Puerto Rico, and internationally. The company offers various residential services, counting video services comprising basic and premium programming, which can be viewed on the television and Internet connected devices; electronic programming guide, high definition (HD) channels, digital video recorder (DVR), and HD DVR services; video-on-demand, set-top boxes, pay-per-view programming, and programming in three-dimensional format services, in addition to television applications that allow access to programming on laptops, smart phones, and tablets; and entertainment, sports, movies, documentaries, lifestyles, news, adult, children, and ethnic and foreign channels.
Finally, Shares of Home Away, Inc. (NASDAQ:AWAY), ended its last trade with -1.65% loss, and closed at $35.18.
HomeAway, declared its participation in The Phocuswright Conference in Ft. Lauderdale/Hollywood, Florida. President and Chief Executive Officer, Brian Sharples, will take part in a Center Stage Executive Interview on Wednesday, November 18 startning at 3:10 p.m. Eastern Time.
HomeAway, Inc., together with its auxiliaries, operates an online vacation rental property marketplace that enables property owners and managers to market properties for rental to vacation travelers. The company’s portfolio comprises vacation rental Websites, such as HomeAway.com, VRBO.com, and VacationRentals.com in the United States; HomeAway.co.uk and OwnersDirect.co.uk in the United Kingdom; HomeAway.de in Germany; Abritel.fr and Homelidays.com in France; HomeAway.es and Toprural.com in Spain; AlugueTemporada.com.br in Brazil; HomeAway.com.au and Stayz.com.au in Australia; and Bookabach.co.nz in New Zealand.