IAC and Match Group Announce Election Deadline for Match Stockholders to Elect Form of Consideration

About this update from Match Group, Inc.

[{"type":"text","content":"NEW YORK and DALLAS, June 10, 2020 /PRNewswire/ -- IAC (NASDAQ: IAC) (\"IAC\") and Match Group (NASDAQ: MTCH) (\"Match\") today announced that the deadline (the \"Election Deadline\") for stockholders of Match to elect the form of consideration they wish to receive in connection with the separation of IAC and Match (the \"Separation\") is 5:00 p.m., New York City time, on June 18, 2020. The Election Deadline is based on IAC's and Match's expectation that IAC's annual meeting of stockholders and Match's special meeting of stockholders to approve matters relating to the proposed Separation will be held as scheduled on June 25, 2020. \n\n \n \n \n \n \n \n\n \nThe terms of the proposed Separation are set forth in the Transaction Agreement, dated as of December 19, 2019 and amended as of April 28, 2020 (the \"Transaction Agreement\"), by and among IAC, Match, IAC Holdings, Inc. (\"New IAC\"), and Valentine Merger Sub LLC. If the Separation is consummated, among other transactions, IAC will be renamed \"Match Group, Inc.\" (referred to as \"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. The completion of the Separation is subject to the satisfaction or waiver of certain conditions contained in the Transaction Agreement, including the receipt of the requisite approvals from the stockholders of IAC and Match. \nUnder the terms of the Transaction Agreement, if the Separation is completed, each Match stockholder (other than IAC, Match and their wholly owned subsidiaries) will be entitled to receive, with respect to each share of Match common stock, one share of common stock in the entity that will be known as \"New Match\" (\"New Match common stock\") and, at each such stockholder's election, either: \n$3.00 in cash; or a fraction of a share with a value of $3.00 (with such value calculated in accordance with the Transaction Agreement) of New Match common stock (an \"additional stock election\"). Match stockholders who do not validly make an election will be deemed to have made an additional stock election with respect to their shares of Match common stock. \nMatch stockholders wishing to make an election must deliver a properly completed Election Form (along with all other documents and materials referred to...

More updates from Match Group, Inc.