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Online travel agency Expedia to buy rival Orbitz for $1.38 billion


    (Reuters) - Online travel agency Expedia Inc said it would buy rival Orbitz Worldwide for about $1.38 billion, as it looks to increase its customers base in a highly competitive industry.

    EXPEDIA (EXPE.NQ)s offer of $12.00 per share in cash represents a premium of 24.7 percent to Orbitz's Wednesday close.

    (This version of the story corrects deal value to $1.38 billion, from $1.33 billion, in headline and paragraph 1)

    (Reporting by Ankit Ajmera in Bengaluru; Editing by Savio D'Souza)