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Published on Monday, May 4, 2020

Sabre Corp abandons Farelogix acquisition bid



Travel tech firm Sabre Corp. has abandoned its controversial attempt to acquire rival Farelogix for $360 million.





The deadline expired at the end of April and both firms agreed there was no way forward to complete a merger, particularly in the current situation.


Sabre scored a legal victory over the US Department of Justice, which had tried to block it over anti-competitive concerns.


Yet just a day later the UK's Competition and Markets Authority blocked the merger for similar reasons.


Sabre CEO Sean Menke said: "We continue to believe that the transaction was not anti-competitive, a result confirmed by the US federal district court's decision in Sabre's favour."


Menke accused the UK regulator of 'acting outside the bounds of its jurisdictional authority'.


The CMA said: "We never take decisions to block mergers lightly and in this case the evidence of harm is clear," the CMA said.


UK authorities said a merger would effectively remove a major rival of Sabre and it would limit innovation.


Menke said: "We remain committed to our long-term goal of creating a new market for personalised travel."

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