IAC to Merge Home Services Unit With Angie's List

At $8.50 a share, the deal would value Angie's List at more than $500 million and represent a premium of 44% over its closing price Monday of $5.89. Ladenburg Thalmann Financial Services Inc. now owns 2,670 shares of the company's stock worth $177,000 after buying an additional 25 shares during the period.

Levin said the big boost in Angie's List reflects a number of things, including the value of Angie's List, the value of HomeAdvisor and the value of the synergies. The Company's tools, services and content across multiple platforms enable consumers to research, shop for and purchase local services for needs, such as home, health and automotive services. IAC will own at about 90% of the stock in the combined company. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/05/02/brokerages-anticipate-angies-list-inc-angi-to-announce-0-05-earnings-per-share-updated.html. "That improves that service experience - consumers get faster and higher-quality responses". The aggregate grade is drawn from the combined reviews and grades given to the businesses from the consumers.

"Home services is one of the last commerce categories where the vast majority of the market is still offline". Angie's List posted earnings per share of ($0.07) in the same quarter last year, which indicates a positive year-over-year growth rate of 28.6%. The firm's revenue was down 11.1% compared to the same quarter previous year. The company's stock price has been sliding in recent months, but it has jumped on news of the acquisition.

IAC in November 2015 made an unsolicited bid to buy Angie's for about $512 million in cash, after activist investor TCS Capital Management urged the company to combine with an industry player such as HomeAdvisor.

Based on data provided from analysts polled by Thomson Reuters, Angie's List, Inc. has a current consensus target price of 7.38. This will come on the heels of the two agreeing to merge IAC's HomeAdvisor and Angie's List to establish a new publicly-traded firm.

On 3/1/2017 Shannon Shaw, Insider, sold 8,323 with an average share price of $5.43 per share and the total transaction amounting to $45,193.89. The Company offers product and company reviews, actively collects data on listed companies, and provides complaint resolution services between business and client. Angie's List had revenues of just over $320 million for the full year 2016. Durchslag struck an optimistic tone in February, touting progress with the transition. The most IAC would pay out in cash would be $130 million. Eric Semler, founder of hedge fund TCS Capital, demanded the company explore alternatives, including selling to IAC's HomeAdvisor.

According to a press release, HomeAdvisor CEO Chris Terrill will assume the role of CEO of ANGI Homeservices Inc., whose headquarters will be based out of HomeAdvisor's Golden, Colorado location.

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