Filed by Cendant Corporation
Commission File No. 1-10308
Pursuant to Rule 425 under
the Securities Act of 1933
Subject Company: Galileo International, Inc.
Commission File No. 1-13153
This document is being filed pursuant to Rule 425 under the Securities Act of
1933 and is deemed filed pursuant to Rule 14a-12 under the Securities Exchange
Act of 1934.
CENDANT RECEIVES U.S. FEDERAL TRADE COMMSSION
CLEARANCE FOR PROPOSED ACQUISITION OF GALILEO
July 9, 2001, New York, NY - Cendant Corporation (NYSE:CD) and Galileo
International, Inc. (NYSE:GLC) today announced that they have been notified by
the U.S. Federal Trade Commission that early termination of the
Hart-Scott-Rodino waiting period has been granted for the proposed acquisition
by Cendant of all of the outstanding common stock of Galileo. The transaction,
which is expected to close in the fall of 2001, remains subject to regulatory
approvals outside the United States and the approval of Galileo's
stockholders. The companies continue to pursue all required regulatory
approvals.
About Cendant Corporation
Cendant is a diversified global provider of business and consumer services
primarily within the real estate and travel sectors. The Company's
fee-for-service businesses include hotel, real estate and tax preparation
franchising; rental cars, fleet leasing and fuel cards; mortgage origination
and employee relocation; customer loyalty programs; vacation exchange and
rental services and vacation interval sales. Other business units include the
UK's largest private car park operator and electronic reservations processing
for the travel industry. With headquarters in New York City, the Company has
approximately 57,000 employees and operates in over 100 countries.
About Galileo International
Galileo is a leading provider of electronic global distribution services (GDS)
for the travel industry through its computerized reservation systems and its
Internet-based solutions, including its online travel service TRIP.com. The
company's systems connect more than 43,000 travel agency locations, which
serve the needs of millions of corporate and individual travelers, to
approximately 500 airlines, 40 car rental companies, 45,000 hotel properties,
360 tour operators and all major cruise lines throughout the world.
This press release is being filed pursuant to Rule 425 under the Securities
Act of 1933 and is deemed filed pursuant to Rule 14a-12 under the Securities
Exchange Act of 1934.
Cendant and Galileo have filed a preliminary proxy statement/prospectus and
other relevant documents concerning the proposed merger transaction with the
SEC. Investors are urged to read this preliminary proxy statement/prospectus
and, when it becomes available, the definitive proxy statement/prospectus and
any other relevant documents filed with the SEC because they will contain
important information on the proposed transaction. You will be able to obtain
the documents filed with the SEC free of charge at the Web site maintained by
the SEC at www.sec.gov. In addition, you may obtain documents filed with the
SEC by Galileo free of charge by requesting them in writing from Galileo, 9700
West Higgins Road, Suite 400, Rosemont, Ill, 60018, Attention: Investor
Relations, or by telephone at (847) 518-4000.
Galileo and its directors and executive officers may be deemed to be
participants in the solicitation of proxies from Galileo's stockholders. A
list of the names of those directors and executive officers and descriptions
of their interests in Galileo is contained in Galileo's proxy statement dated
April 3, 2001, which is filed with the SEC. Stockholders may obtain additional
information about the interests of the directors and executive officers in
this transaction by reading the proxy statement/prospectus when it becomes
available.
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Cendant Media Contact: Cendant Investor Contacts:
Elliot Bloom Denise Gillen
(212) 413-1832 (212) 413-1833
Sam Levenson
(212) 413-1834
Galileo Media Contact: Galileo Investor Contacts:
Andrea Steffy Tammy Bobbitt
(847) 518-4973 (847) 518-4771
Mike Daly
(847) 518-4420