|Bid||23.84 x 1000|
|Ask||23.86 x 800|
|Day's Range||23.69 - 24.03|
|52 Week Range||19.41 - 26.62|
|Beta (3Y Monthly)||0.81|
|PE Ratio (TTM)||27.18|
|Forward Dividend & Yield||0.56 (2.34%)|
|1y Target Est||N/A|
The U.S. Department of Justice is suing to block Sabre's $360 million acquisition of Farelogix. In a suit filed Wednesday, federal government attorneys said they have obtained text messages where Sabre executives acknowledged that acquiring Farelogix would eliminate a competitive threat and further entrench Sabre in booking services. On the day Sabre announced its intention to […]The post Texts Between Sabre Execs About Farelogix Deal Fuel U.S. Antitrust Lawsuit appeared first on Skift.
While the feds are preparing to stop Sabre's $360 million deal for Farelogix, the Southlake company struck back, saying the DOJ's claims "lack a basis in reality and reflect a fundamental misunderstanding of the industry."
Last week, Sabre said it planned to close the deal announced in November by Wednesday unless the Justice Department sued. The companies agreed last week to extend the termination date of their acquisition agreement to April 30 to allow time for any Justice Department challenge to be resolved. The suit, filed in U.S. District Court in Delaware, said the firms compete head-to-head to provide booking services to airlines, including offering IT solutions that allow airlines to sell tickets and ancillary products through traditional brick-and-mortar and online travel agencies to the traveling public.
Sabre may be heading to court over its proposed deal to buy Farelogix after all. The U.S. Justice Department is preparing to sue to block Sabre Corp.’s (Nasdaq: SABR) proposed acquisition of Farelogix over concerns the deal will harm competition, Bloomberg reported Friday, citing a person familiar with the matter. The move would follow Sabre’s decision to inform the DOJ was planning to wrap the acquisition Aug. 21.
(Bloomberg) -- The U.S. Justice Department is preparing to sue to block travel technology company Sabre Corp.’s proposed acquisition of Farelogix Inc. over concerns the deal will harm competition, according to a person familiar with the matter.The department’s antitrust division is set to file a lawsuit as soon as Monday, said the person. Sabre announced plans Wednesday to close the deal next week.Sabre agreed to buy Farelogix in November for $360 million. Both companies provide information technology systems that enable airlines to sell tickets.The Justice Department challenge would follow concerns raised by the U.K.’s antitrust regulator on Friday. The Competition and Markets Authority said its initial investigation of the takeover found Farelogix is a competitive threat to Sabre because it relies on a disruptive business model and has brought innovation to the market even though it’s smaller.“Should the deal go ahead as planned, the CMA is concerned that Sabre would not face enough competition from other suppliers, leading to higher prices or lower quality services, as well as reduced innovation in the industry generally,” the regulator said.U.S. antitrust officials are under pressure to get tougher on acquisitions of startups by large technology companies. Advocates of stricter enforcement say the deals have allowed tech firms to solidify their dominance by eliminating rivals.Sabre declined to comment and pointed to the company’s previous commitment to offer Farelogix products at the same or lower prices and to continue to invest in its technology. The Justice Department didn’t respond to a request for comment.Sabre, based in Southlake, Texas, said Wednesday that it would close the deal on Aug. 21. The company said it was extending the merger’s termination date to April 30 to allow time for any Justice Department lawsuit to be resolved.“Over the past nine months, we believe we have done all we can to address the DOJ’s concerns,” Sabre Chief Executive Officer Sean Menke said in a statement. “While we hope the DOJ will ultimately recognize that this transaction is pro-competitive, we are prepared to vigorously defend the deal in court if necessary.”To contact the reporter on this story: David McLaughlin in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Sara Forden at email@example.com, Gregory MottFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Budget airline Spirit Airlines last week bought more airline technology from Sabre, signaling that the tech vendor's sales team is abandoning its defensive mode. Texas-based Sabre is now seeking an increased wallet share of existing customers. The trend is a turnabout. For years, carriers complained about Sabre's tech. The tools aim to help airlines with […]The post Sabre's Deal With Spirit Underscores Its Airline Tech Rebound appeared first on Skift.
'We believe we have done all we can to address the DOJ's concerns,' Sabre Corp. CEO Sean Menke said in a statement.
Sabre is frustrated that the U.S. Department of Justice has held up its acquisition of Farelogix. Nine months ago it had proposed buying the airline distribution technology specialist. So on Wednesday the travel technology giant said it would go ahead with the $360 million acquisition on August 21. "Over the past nine months, we believe […]The post Sabre Dares U.S. Justice Department to Sue It Over Farelogix Deal appeared first on Skift.
Sabre's (SABR) renewal of partnership with Croatia Airlines reflects its continued efforts to enhance the highly profitable Airlines Solutions segment.
Sabre Corporation (SABR) is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front.
Sabre (SABR) second-quarter results gain from growth across each of its business segments. However, high technology costs and incentives fees keep margins under pressure.
Tyler Technologies Inc. and Sabre Corp. rose by more than 3 percent or more on Thursday afternoon as investors warmed to their prospects for growth. Combined, both companies have more than $15 billion in market valuation.
Sabre, the U.S. travel technology giant, has lost momentum. Second-quarter revenue rose only 1.6 percent to $1 billion, the Southlake, Texas-based company reported on Thursday. That figure represented a slowdown. In the same period a year ago, the company had a 9 percent growth rate. In 2015 and 2016, the company enjoyed double-digit annualized growth. […]The post Sabre Hunts for More Tech Deals to Overcome Sales Slump appeared first on Skift.
Sabre (SABR) delivered earnings and revenue surprises of 9.09% and 0.62%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...
Sabre (SABR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Sean Menke has been the CEO of Sabre Corporation (NASDAQ:SABR) since 2016. This report will, first, examine the CEO...
Hacked by suspected Chinese cyber spies five times from 2014 to 2017, security staff at Swedish telecoms equipment giant Ericsson had taken to naming their response efforts after different types of wine. After successfully repelling a wave of attacks a year earlier, Ericsson discovered the intruders were back. Teams of hackers connected to the Chinese Ministry of State Security had penetrated HPE’s cloud computing service and used it as a launch pad to attack customers, plundering reams of corporate and government secrets for years in what U.S. prosecutors say was an effort to boost Chinese economic interests.
The 700+ hedge funds and famous money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the first quarter, which unveil their equity positions as of March 31. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund portfolios. Our extensive […]
Goldman sees trouble in all of Sabre’s business segments, Schneider said in the downgrade note. In Sabre’s airline solutions business, Schneider said momentum has slowed “significantly” in recent quarters — and the company has failed to announce many new clients in the last couple years.