Why Match Group and IAC Stocks Are Soaring Today
One of the harsh realities of the dating world is that breakups happen. They are sometimes painful, long in coming, and usually necessary. If done right, they can end up being cathartic and beneficial to both parties.
The same can be said for the business world, and one split that has been a long time coming is the separation of Tinder owner Match Group (NASDAQ: MTCH) and its corporate parent, IAC (NASDAQ: IAC).
The companies announced in a press release Thursday that they have reached a definitive agreement to split off IAC's stake in Match Group from the rest of its businesses, a deal that has been approved by the boards of both companies. The transaction is expected to close in the second quarter of 2020.
Source Fool.com
