Replies to post #115629 on Lehman Brothers Financial SA (LEHNQ)

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What happened to Priceline stock?
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Priceline's stock, formerly trading under the ticker symbol PCLN, now exists as Booking Holdings Inc., trading under the ticker symbol BKNG. The name change happened in February 2018, reflecting the company's evolution from a U.S.-centric service to a global online travel giant dominated by its Booking.com brand. The company has a volatile history, including a significant drop after the dot-com bust and a 2003 reverse stock split, but has since achieved massive growth.
Key events and stock performance
Early days and the dot-com crash: Priceline went public in 1999 and saw initial success before crashing by 99% within two years, a casualty of the dot-com bubble burst and the aftermath of 9/11.
Reverse stock split: In 2003, the company executed a one-for-six reverse stock split to boost its per-share price and avoid delisting, a move that often signals trouble but was a rare success for Priceline.
Recovery and growth: The company steadily recovered, significantly outperforming the market. It became the world's leading provider of digital travel experiences through strategic acquisitions like Booking.com, Agoda.com, and others.
Name change to Booking Holdings: In February 2018, The Priceline Group Inc. officially changed its name to Booking Holdings Inc. to better reflect its international reach and the dominance of its Booking.com brand.
New ticker symbol: Following the name change, the stock began trading under the new ticker symbol BKNG on the NASDAQ exchange.

Priceline (now Booking Holdings) paid $40 per share for Kayak during the acquisition, which occurred in 2013 after the deal was announced in November 2012. The total value of the deal was approximately $1.8 billion in cash and stock.
This price represented a significant premium:
A 29% premium over Kayak's closing share price of $31.04 on the day the acquisition was announced.
A 54% premium over Kayak's initial public offering (IPO) price of $26 per share from July 2012.
Kayak shareholders had the option to elect to receive the $40 per share value in either cash or Priceline stock, subject to certain pro-ration rules.

Booking Holdings Inc
NASDAQ: BKNG
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4,906.24 USD +30.87 (0.63%)today
Closed: Nov 25, 5:25?PM EST • Disclaimer
Pre-market 4,903.00 -3.24 (0.066%)

The deal included a provision that if Tenaya Capital reached certain performance milestones, Lehman would receive a percentage of the profits. However, this was a performance-based payment, not an ongoing ownership interest.