Skift Take
Don't count your deals before they've hatched. Coronavirus has killed valuations of many companies, and deals along with them. On the other hand, some companies, such as Grubhub, are in the right place at the right time.
It's a headline writer's dilemma: Two companies announce they've agreed to merge, leading many to believe it's a done deal, except for the final signatures.
But as we've seen in the last few months, the impact coronavirus on the economy, earnings, and employment has turned businesses upside down, turning the deals and headlines to dust.
Several travel companies have been haggling for better deal terms or pulled the plug on agreed-upon acquisitions and investments. They argue that the coronavirus pandemic has undermined the rationales for the deals. So the crisis has thrown billions of dollars worth of transactions into upheaval.
Skift has rounded up some of the major travel deals that never closed.
Yatra-Ebix
Yatra, a travel agency with a big corporate travel business in India, announced in July it would sell itself to Ebix, a U.S. technology firm. The deal had valued Yatra at $337.8 million. But Ebix later haggled over terms and that prompted Yatra to back out this month.
Wex-Travelport's eNett and Optal
There could be tons of acrimony tied to Wex's effort to walk away from a $1.7 billion
