IAC exploring spin-off of Match Group and ANGI Homeservices


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IAC said Wednesday it’s exploring a possible distribution of its interests in Match Group and ANGI Homeservices to its shareholders. IAC shares rose as much as 6% in after-hours trading before settling on a slight gain.

In a letter to shareholders that coincided with the company’s June quarter earnings release, IAC CEO Joey Levin said the company was considering spinning out the two publicly traded subsidiaries, but that “we don’t yet know where that process will lead” and said it may ultimately choose to spin off both, one or neither company.

IAC owns 80% of Match Group, which includes…

Source cnbc.com

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