WYND - Wyndham Destinations acquires travel + leisure brand from Meredith for $100M

Wyndham Destinations (WYND) acquires Travel + Leisure brand from Meredith Corporation (MDP) +5% in the strategic alliance; Wyndham Destinations to be renamed Travel + Leisure.The acquisition will accelerate Wyndham's strategic plan to build on its leading position as the world’s largest vacation club and exchange company and expand into new leisure travel and licensing markets.In early 2021, Wyndham Destinations will change its name to Travel + Leisure Co. and will expand its portfolio through various branded products and offerings.The new Travel + Leisure stock will begin trading under the ticker symbol NYSE:TNL in mid-Feb. 2021.Wyndham Destinations will fund the acquisition with cash on hand of $35M paid at closing, with trailing payments completed by June 2024. Also, WYND has agreed to a five-year marketing commitment across Meredith's portfolio of brands.The acquisition is expected to be neutral to earnings for the new Travel + Leisure Co. in year one and accretive in year

For further details see:

Wyndham Destinations acquires travel + leisure brand from Meredith for $100M