IACI - IAC/InterActiveCorp Buyback and Spinoff
29 March 2005Last week IACI - IAC/InterActiveCorp announced its plan to buy Ask Jeeves (Nasdaq: ASKJ) in a stock deal valued at nearly $2 billion. The acquisition is still pending approval by Ask Jeeves shareholders.
Yesterday (3/28/05) IACI - IAC/InterActiveCorp announced that it would commence purchasing shares of its common stock as soon as March 29. IAC is currently authorized to purchase up to 102.9 million shares of its common stock pursuant to the two previously announced share repurchase authorizations by its Board of Directors. The repurchases by IAC are intended to lessen the dilution to eps (earnings per share) that will result following its pending acquisition of Ask Jeeves, Inc. (Nasdaq: ASKJ).
Billionaire Barry Diller’s Internet company (IAC - IAC/InteractiveCorp) plans to spin-off Expedia and its other travel-related properties during the second quarter after the Ask Jeeves Purchase closes.
At the end of 2004, IAC had about $3.6 billion in cash and marketable securities.
IACI - IAC/InterActiveCorp Businesses ( http://www.iac.com )
Anyway.com
Citysearch
Classic Custom Vacations
Domania
Entertainment Publications
Evite
Expedia
Expedia Corporate Travel
GetSmart
Gifts.com
Hotels.com
Hotwire.com
HSN (Home Shopping Network)
HSE24
Interval International
LendingTree
Match.com
RealEstate.com
ReserveAmerica
Precision Response Corporation
ServiceMagic
Ticketmaster
TV Travel Shop
TripAdvisor, Inc.
udate.com
WWTE
ZeroDegrees
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