BUZZ-IAC, Angi rise after IAC says will spin off home services unit
ReutersJan 13, 2025 10:10 PM
** Shares of Angi Inc ANGI.O rise 16% to $1.81, while IAC IAC.O shares up 3.62% at $43 in after-hours trading
** IAC's CEO Joey Levin to step down, after company spins off majority stake in home services marketplace Angi
** Company looking to slim down portfolio and focus on its biggest asset, Dotdash Meredith
** Levin to become an advisor for IAC and executive chairman of Angi
** IAC does not intend to appoint a new CEO and its leadership will answer to chairman Barry Diller
** Spin off is expected to close in the first half of 2025
** In 2024, ANGI had fallen 33.3%, and IAC 17.6%
(Reporting by Juby Babu in Mexico City)
((Juby.Babu@thomsonreuters.com;))
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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