Monday, October 14, 2019

U.S. spinoff slump works against IAC's breakup with Match

IAC/InterActive Corp. is planning to spin off Match Group Inc., the owner of Tinder and other online-dating sites, at a time when shares of Match’s would- be peers are floundering. The S&P U.S. Spin-Off Index, tracking companies that were separated within the past four years and have a market value of at least $1 billion, dropped 29% from a January 2018 record through last December and has yet to recoup the loss. The S&P 500 rose as much as 5.3% during the same period, and its latest record was set in July. IAC, which owns an 81% stake in Match, sent a spinoff proposal to a special committee of its board on Friday.

No comments:

Post a Comment