Courtesy of Benzinga.
According to the New York Post, IAC/InterActive Corp (NASDAQ: IAC) still has its sights set on acquiring Angie's List Inc (NASDAQ: ANGI) after a failed attempt last year.
IAC/InterActive offered to acquire Angie's List for $8.75 per share in cash or through a stock-for-stock exchange. Angie's List rejected the offer, noting that price undervalues the company.
The New York Post, citing sources, reported that IAC/InterActive is likely waiting for Angie's List to report its earnings before presenting a revised offer.
A source told the publication that IAC/InterActive needs to "redefine themselves ASAP" and will make a "big run" for Angie's List. A second source also suggested that IAC/InterActive's CEO, Barry Diller "has to grow" the company following the spin of the Match Group which left Diller with his "last major asset," Home Advisor.
Shares of Angie's List were trading higher by nearly 5 percent after nearly a full hour of trading on Wednesday.
Posted-In: Angie's List Barry Diller Home Advisor IAC/InterActiveNews Rumors M&A Movers
