U.S. Siris Capital Group LLC and investment management firm Elliott Management consortium is close to an agreement to buy UK travel commerce platform Travelport Worldwide Ltd.
Shares of Travelport were trading up 8.4 percent in New York at $16.20 on Thursday, giving it a market capitalization of over $2 billion.
Siris Capital and Elliott Management expect to wrap up the negotiations with Travelport as early as next week. The acquisition would mark the culmination of an eight-month-long effort by Elliott to clinch a deal for Travelport.
In the quarter ended September 30, Travelport reported net revenue of $622.5 million.