Angie's List Shareholders to Vote on Merger
INDIANAPOLIS - Stockholders of Indianapolis-based Angie’s List Inc. (Nasdaq: ANGI) will Friday meet to vote the proposed acquisition by the New York-based parent of HomeAdvisor. IAC (Nasdaq: IAC) is offering a deal valued at up to $500 million for the online home services company.
The deal has already been approved by the boards of directors for both companies. If approved by stockholders, Angie's List would merge with HomeAdvisor to become ANGI Homeservices. The combined company would trade on the Nasdaq exchange under the "ANGI" ticker symbol currently used by Angie's List.
ANGI Homeservices would be headquartered out of Golden, Colorado, though it would keep a presence in Indianapolis. Earlier this month, Angie's List announced plans to lay off approximately 230 employees after the acquisition closes.