Angie’s List Inc (NASDAQ: ANGI) is off to an incredibly strong start in the market this morning, and for good reason. The company announced that it will be acquired at a strong premium. Of course, this led to excitement among investors, who are pushing the stock skyward. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (8:28), ANGI is trading at $9.14 per share after a gain of 55.18% thus far today.
ANGI To Be Acquired
As mentioned above, Angie’s List is off to an overwhelmingly strong start in the pre-market this morning after announcing that it has signed an agreement to be acquired. IAC, the company that owns Home Advisor, will be buying ANGI in a deal valued at approximately $500 million, or $8.50 per share. That represents a 44% premium over the stock’s closing price on Monday.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on ANGI. In particular, we’re interested in following the acquisition, as it is still subject to customary closing conditions. Nonetheless, we’ll be following the news closely and bringing it to you as it breaks!
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