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IAC

IAC

$104.84

0.3 (0.29%)

17:56
06/23/17
06/23
17:56
06/23/17
17:56

IAC will not pursue plan to create new class of non-voting stock

IAC's Board of Directors has determined not to pursue the Company's previously announced plan to create a new class of non-voting stock. As previously reported, on December 15, 2016, IAC stockholders approved a proposed charter amendment to implement the Class C Recapitalization. Certain stockholders brought suit in the Delaware Court of Chancery against the Company and its directors, challenging that proposed charter amendment and seeking an injunction against its execution. IAC agreed not to effect the Class C Recapitalization during the pendency of the litigation. The Board of Directors of IAC met on June 21, 2017. After discussions with management of IAC and considering, among other things, recent developments in the stockholder litigation that made it unlikely that the litigation would be finally resolved until late 2018 or 2019, the burden and distraction that the litigation was likely to impose on IAC and its management, including the considerable legal and related expenses of the litigation, and other relevant information, the Board determined not to proceed with the Class C Recapitalization. As a result of the Board's determination, the parties in the Delaware litigation challenging the Class C Recapitalization have stipulated to the dismissal of the litigation on mootness grounds.

  • 28

    Jun

IAC IAC
$104.84

0.3 (0.29%)

06/14/17
BOFA
06/14/17
NO CHANGE
Target $133
BOFA
Buy
IAC discounted valuation not sustainable, says BofA/Merrill
BofA/Merrill analyst Nat Schindler believes IAC shares remain undervalued and is trading at a discount to enterprise value based on its ownership in Match and implied cost value of Angie's stock. The analyst also said the company has a high cash balance available for acquisitions and other asset in the portfolio have potential for value creation. Schindler rates IAC a Buy with a $133 price target.
05/26/17
PIPR
05/26/17
NO CHANGE
Target $130
PIPR
Overweight
IAC price target raised to $130 from $111 at Piper Jaffray
Piper Jaffray analyst Samuel Kemp raised his price target for IAC to $130 saying the upcoming close of the Angie's List/ HomeAdvisor deal could put "upward pressure" on the shares. The analyst remains bullish on HomeAdvisor fundamentals and keeps an Overweight rating on IAC.
05/09/17
AGIS
05/09/17
NO CHANGE
Target $115
AGIS
Buy
IAC price target raised to $115 from $86 at Aegis
Aegis analyst Victor Anthony raised IAC's price target to $115 from $86 to reflect the "unlocked value" of the Angie's List Homeservices business. The analyst believes the combination of HomeAdvisor and Angie's List will accelerate the adoption of the home services market given management's strong understanding of the business, having driven 30% topline growth at HomeAdvisor in the domestic market for 9 consecutive quarters. Anthony rates IAC a Buy.
05/08/17
LEHM
05/08/17
NO CHANGE
Target $105
LEHM
Overweight
IAC price target raised to $105 from $96 at Barclays
Barclays analyst Ross Sandler raised his price target for IAC to $105 saying that around $99 per share, Vimeo, apps and the company's cash are not being fully valued. The analyst maintains an Overweight rating on IAC following the Q1 results.

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SECO

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BASFY

BASF

$27.39

-0.13 (-0.47%)

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RBS

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$7.30

-0.04 (-0.54%)

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BRFS

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SU

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FB

Facebook

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