SABR News & Events

Sabre (SABR) and Constellation Software (CSU), a beneficial owner of approximately 12.7% of Sabre's outstanding shares, have entered into a strategic governance agreement. In connection with the agreement, Sabre will appoint Damian McKay, CEO of Vela Software Group, an operating group division of Constellation, to its Board of Directors. In connection with the agreement, the Sabre Board will terminate the company's shareholder rights plan announced on March 1. McKay joined Vela in 2015 through its acquisition of Datamine, where he had served as CEO since 2012 and continued to serve as CEO until assuming his current role in 2020. Prior to Datamine, McKay served as General Manager of Energy Services for Australia and New Zealand at GE Energy, a division of General Electric at the time. Prior to GE Energy, McKay held sales roles at energy retailer, AGL Power, and electric utility companies, CitiPower and Powercor, in Australia. McKay currently serves as a member of the Constellation Software Advisory Board and on the Board of Directors of several private subsidiaries of Constellation Software and Vela Software.

Shares of Sabre Corporation (SABR) are up 26% in Monday morning trading after the company announced yesterday that its board of directors has approved the adoption of a limited-duration shareholder rights plan to protect the interests of Sabre and its shareholders. The Rights Plan is effective immediately and expires in one year. The Board, in consultation with its independent advisors, adopted the Rights Plan in response to the substantial accumulation of shares of Sabre's common stock by Constellation Software (CNSWF), the company stated. In deciding to adopt the Rights Plan, the board considered, among other things, that between April 2025 and November 2025, Constellation accumulated a 9.7% economic position in Sabre, comprising 4.7% beneficial ownership of common stock and a further 5% via derivative instruments, and privately informed Sabre of its ownership stake for the first time in early January, the company noted. "On February 26, 2026, despite the parties nearing the finish line on the agreement, Constellation abruptly and without explanation broke off several weeks of constructive negotiations and stated that its intentions 'would appear clear with the benefit of time;' Sabre made multiple attempts to reengage Constellation on February 26 and February 27, 2026, that remain unanswered, and on February 28, 2026, Constellation withdrew the formal nomination of its second candidate (not the candidate who the parties had been contemplating would join the Board in connection with the proposed strategic governance agreement) without providing any explanation or otherwise responding to Sabre's requests to reengage; and during the week of February 23 through February 27, 2026, the Company observed unusually high trading volume in its stock," Sabre added.