SEEKING ALPHA - July 1 - That means today, "new" IAC will trade under the IAC symbol, and "new" Match Group under its MTCH symbol. Match Group's dual-class voting structure has been eliminated, and the interest in Match Group that used to be held by IAC is now held directly by IAC shareholders. Specifically, IAC shareholders received one share of "new" IAC common stock and 2.1584 shares of "new" Match Group for each share of IAC common stock held. And IAC received $838M of cash, representing $3/share of Match Group stock previously held. IAC expects to receive an additional $1.4B from the sale of shares of New Match, set to close later today.
by Jason Aycock
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