Cendant in Galileo Takeover Talks

8th Jun 2001

Cendant Corporation confirmed yesterday that they are in discussions concerning the possibility of their taking over Galileo International.
As long ago as last October, Galileo`s board of directors authorised management to “explore strategic alternatives designed to maximise shareholder value”.
Terms of the possible transaction were not disclosed and there can be no assurance that a transaction will be consummated. Cendant said that it was exploring the strategic acquisition of Galileo that, if completed, could materially add to Cendant`s earnings per share in 2002.
The Companies do not plan to make any further public announcements with respect to this possible transaction unless and until a definitive agreement is reached.


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