Friday, December 23, 2005

Hit #72

Travel reservation services provider, Pegasus Solutions (PEGS), is being taken private by Prides Capital and Tudor Investment, for $275 million.

This cash offer of $9.5/share, is a discount of 27% to my average cost of $12.9/share. The sizable debt is likely behind this lower valuation.

This comes not long after an European major, Amadeus, was acquired by private equity groups. The last man standing, Sabre Holdings (TSG), should also attract some interest soon.

Previous hit - Foothill Bank (#71)


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