Tripadvisor stock jumps on special committee to explore sale

Shares of Tripadvisor (TRIP) are jumping as the company is forming a special committee to evaluate potential offers to buy the company. This comes as Liberty Tripadvisor (LTRPA), which already owns over 21% of Tripadvisor shares, showed interest in buying out the company.

Yahoo Finance Anchors Josh Lipton and Julie Hyman break down all the details.

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Editor's note: This article was written by Nicholas Jacobino

Video transcript

JULIE HYMAN: And getting to another ticker that's trending today. Shares of Tripadvisor higher after the company said it had formed a special committee to evaluate any potential offers to buy it. This comes following interest from Liberty Tripadvisor, which owns 21% of the stock, and said it was evaluating potential alternatives for the company. So Liberty Tripadvisor, the controlling company, and basically had now announced they were forming this special committee here. It's interesting when you look at who could be buying the company. It doesn't seem to be there's a lot of broad agreement as to who would be a logical buyer.

JOSH LIPTON: Yeah. And in fact, Reuters is saying Liberty Tripadvisor has been approached by at least one bidder for its controlling stake. And Tripadvisor, that's according to Reuters citing sources, but the identity of that party could not be learned at this time, Julie.