From prnewswire.com:
---
REDMOND, Wash., Sept. 23 /PRNewswire/ -- Microsoft Corp. (Nasdaq: MSFT)
today announced that Expedia, Inc. has filed a registration statement with the
Securities and Exchange Commission for an initial public offering of shares of
its Common Stock. Goldman, Sachs & Co. and Morgan Stanley Dean Witter are
joint book-running managers for the offering.
Following the initial public offering, Expedia, Inc. will become a
separate company, but will have a contractual relationship with and be
majority-owned by Microsoft(R). As part of the contractual relationship
Expedia, Inc. will continue to provide Travel services on the MSN.COM(TM)
network of Internet services.
Expedia, Inc. is the leading provider of branded online travel services
for leisure and small business travelers. Expedia, Inc. operates its own
website, located at expedia.com with localized versions in the United
Kingdom, Germany, and Canada. The Expedia.com(TM) travel service offers
consumers one-stop travel shopping and reservation services, providing
reliable, real-time access to schedule, pricing and availability information
for over 450 airlines, 40,000 hotels, and all major car rental companies.
A registration statement relating to these securities has been filed with
the Securities and Exchange Commission but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior to the time
the registration statement becomes effective.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which the offer, solicitation or
sale would be unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction.
When available, copies of the preliminary prospectus relating to this
offering may be obtained from Goldman, Sachs & Co. at 85 Broad Street,
New York, NY 10004, 212-902-1000 and Morgan Stanley & Co. Incorporated at
1585 Broadway, New York, NY 10036, 212-761-4000.
About Microsoft
Founded in 1975, Microsoft is the worldwide leader in software for
personal computers. The company offers a wide range of products and services
for business and personal use, each designed with the mission of making it
easier and more enjoyable for people to take advantage of the full power of
personal computing every day.
NOTE: Microsoft, Expedia, Expedia.com, and MSN.COM are either registered
trademarks or trademarks of Microsoft Corp. in the United States and/or other
countries.
Other product and company names herein may be trademarks of their
respective owners. |
