Tripadvisor forms a special committee to assess deals, analyst seeks more clarity

Tripadvisor (NASDAQ: TRIP) announced on Monday it has established a special committee within its board to assess potential transactions or alternative strategies. The company’s shares surged over 10% in premarket trading Tuesday.

According to the press release, the committee, comprised of independent directors, will review any forthcoming proposals.

This initiative follows the announcement by its parent company, Liberty Tripadvisor Holdings, regarding its exploration of different options for the company.

“Any potential transaction would be subject to, among other things, the negotiation and execution of mutually acceptable definitive transaction documents and the approval of the Board, including the approval of the Special Committee,” the travel site operator said in the announcement.

The Special Committee has retained Centerview Partners LLC as its financial advisor to assist in its evaluation process.

Commenting on the announcement, Jefferies analysts said…