NEW YORK— Cendant Corp. has agreed to buy discount air ticket seller Cheap Tickets for $425 million in cash, furthering the company’s online travel agency business. The move comes as Cendant is waiting to complete its $2.9 billion purchase of another travel services provider, Galileo International, a transaction that is currently under review by European regulators. Cendant said the purchase of Cheap Tickets, set to close this fall, would add $0.01 to $0.02 to earnings per share in 2002, and $0.03 in 2003. SOURCE: Reuters
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