Changes to its executive-severance plan may suggest that TripAdvisor could be laying the groundwork for a takeover.

The travel review and booking site has adopted a plan that better remunerates key executives whose jobs may be jeopardised by a change-in-control such as a merger or sale, making them more likely to stay on once an agreement has been reached.

TripAdvisor’s market value has shrunk by more than $3.3billion in the last year, but still has a valuation higher than its two most likely buyers, Expedia and Priceline.

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