Kayak shareholders approve merger with Priceline

Kayak Software Corp. shareholders voted overwhelmingly in favor of adopting the proposed merger agreement with priceline.com Inc., the companies said yesterday.

The merger agreement, first announced Nov. 8 by the Norwalk travel companies, was approved by about 96 percent of Kayak shareholders who voted at a March 4 meeting.

Under the terms of the merger, priceline.com will acquire Kayak for about $1.8 billion. The closing of the merger will take place once the remaining conditions, including regulatory approvals, are secured. At that point, Kayak and priceline.com will set a deadline for Kayak stockholders to specify the type of consideration they wish to receive.