INVESTOR'S BUSINESS DAILY – Oct 12 – Match Group will carry a much bigger debt load as parent IAC is spinning off the dating app company. Match stock fell while IAC stock climbed. IAC will transfer ~$1.67B in debt to Match as part of the spinoff, according to SunTrust Robinson Humphrey analyst Youseff Squali. He said Match also plans to issue new debt to pay IAC and other shareholders a special dividend prior to the formal spinoff. Match paid out a $560M special dividend in 2018. IAC said it would not spin off ANGI Homeservices. IAC shareholders will receive shares of both the new Match company and IAC entities. In addition, the transaction would be tax-free.
by Reinhardt Krause
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