Tripadvisor Agrees to Sell TheFork to American Express for $700 Million; Shares Rise
Tripadvisor has reached an agreement to sell its European restaurant booking platform TheFork to American Express in an all-cash transaction valued at $700 million. Shares of Tripadvisor jumped about 14% on the news. The company said the sale will allow it to sharpen focus on its Experiences strategy and could support capital returns, balance-sheet…