NEW YORK— According to recent reports in the Wall Street Journal and from CBSMarketWatch.com, Cendant Corp. is near a deal to buy electronic travel reservations service Galileo International in a cash and stock deal valued at approximately $2.6 billion. It has been reported that the two sides are in the midst of final negotiations and hope to announce a deal within the next week. Cendant is negotiating a deal that would value Galileo at roughly $34 per share, more than double where the stock had been trading in October when Galileo announced it was putting itself up for sale. Cendant already owns WizCom, an information technology unit that helps travel companies connect to various electronic travel reservation systems.
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