Starting today, "new" IAC will trade under the symbol "IAC" and "new" Match Group under the symbol "MTCH. J.P. Morgan Securities LLC and Allen & Company LLC are serving as placement agents to IAC and are represented by Skadden, Arps, Slate, Meagher & Flom LLP. IAC believes that open communication leads to the most effective supplier relationships. Match Group's flagship product, Tinder, is the highest grossing non-gaming app worldwide, with a global presence.Upon close of the transaction, IAC shareholders received one share of "new" IAC common stock and 2.1584 shares of "new" Match Group common stock for each share of IAC common stock held immediately prior to the transaction. Career opportunities at IAC are diverse as the people who interact with our sites every day. If the Separation is consummated, IAC will be renamed "Match Group, Inc." ("New Match") and will own the businesses of Match and certain IAC financing subsidiaries, and New IAC will be renamed "IAC/InterActiveCorp" and will own IAC's other businesses.
Pursuant to the Transaction Agreement, the proceeds will be transferred to New IAC. Forward-looking statements may include, but are not limited to, statements relating to IAC's and Match's anticipated financial performance, objectives, plans and strategies, and all statements (other than statements of historical facts) that address activities, events or developments that IAC and Match intend, expect, project, believe or anticipate will or may occur in the future. IAC Group Funding History . Each party will file other documents regarding the proposed transaction with the SEC. "Be opportunistic, be balance sheet conservative, build up enterprises and when they deserve independence let them have it.
Whether actual results will conform to expectations and predictions is subject to known and unknown risks and uncertainties, including: risks and uncertainties discussed in the joint proxy statement/prospectus and other reports that IAC and Match have filed with the SEC; competition; Match's ability to maintain user rates on its higher-monetizing dating products; the companies' ability to attract users to their products and services through cost-effective marketing and related efforts; changes in the companies' relationship with (or policies implemented by) Google; foreign currency exchange rate fluctuations; the companies' ability to distribute their products through third parties and offset related fees; the integrity and scalability of the companies' systems and infrastructure (and those of third parties) and the companies' ability to adapt their systems and infrastructure to changes in a timely and cost-effective manner; the companies' ability to protect their systems from cyberattacks and to protect personal and confidential user information; risks relating to certain of the companies' international operations and acquisitions; the impact of the outbreak of the COVID-19 coronavirus, or any subsequent or similar epidemic or pandemic; the risks inherent in separating Match from IAC, including uncertainties related to, among other things, the costs of the separation, whether the parties will be able to realize expected benefits of the separation on the anticipated timeline or at all, any litigation arising out of or relating to the proposed transaction, the expected tax treatment of the transaction, and the impact of the transaction on the businesses of IAC and Match; and other circumstances beyond IAC's and Match's control.
If the sales have not been consummated by July 10, 2020, IAC or any investor may terminate the purchase agreements.This communication is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Press Releases BACK. For more details on factors that could affect these expectations, please see IAC's and Match's filings with the SEC, including the joint proxy statement/prospectus.The transaction is expected to result in proceeds of approximately $1.4 billion. No recent acquisitions found related to IAC Group. About IAC; Leadership; Quality and Safety; Supplier of Choice; IAC in the Community; IAC and the Environment; Locations; Suppliers. Reviews from IAC Group employees about IAC Group culture, salaries, benefits, work-life balance, management, job security, and more. IAC and Match Group Complete Full Separation . As a result of the separation, Match Group's dual class voting structure has been eliminated and the interest in Match Group formerly held by IAC is now held directly by IAC's shareholders. In addition, IAC received $838 million of cash representing $3 per share of Match Group common stock previously held by IAC and the aggregate cash consideration not elected by Match Group public shareholders.