European Clouds over Cendant's Galileo Deal
Are Cendant Corp. shareholders growing nervous about Henry R. Silverman's latest big deal? Sure looks like it. In June, the real estate and travel giant agreed to pay $2.9 billion to buy Galileo International, the second-largest travel reservation system. But Cendant's stock (CD ) has dipped from a high of $21.53 in mid-July to close at $18.87 on Sept. 4. The drop mirrors investor worries that European regulators may hold up the deal for further review.
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