This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Match.com Increases Its Stake In Meetic SA From 80.8% To 87.5% And Announces Planned Public Offer For All Outstanding Shares





NEW YORK, Sept. 25, 2013 /PRNewswire/ -- Match, the world's leading personals company and an operating segment of IAC (Nasdaq: IACI), announced today that it has increased its ownership stake in Meetic S.A. to 87.5% by acquiring all remaining shares held by Marc Simoncini, Meetic's founder, which represent 6.7% of the capital.

The acquisition was completed today through an off-market transaction with Jaina Capital and Jaina Ventures, two investment vehicles controlled by Mr. Simoncini at a price per share of €18.75.  The aggregate purchase price was approximately €29.5 million.  Following the acquisition, Match now owns 87.5% of the capital and 88.6% of the voting rights of Meetic.  Mr. Simoncini, who no longer owns, directly or indirectly, any Meetic shares, has resigned from Meetic's board of directors.

Match intends to launch a voluntary simplified public tender offer for all of the outstanding shares of Meetic S.A. at a price of €18.75 per share in cash in the near term. The offer price represents a premium of approximately 51% on the closing price of Meetic shares on September 24, 2013.  It is Match's intention to implement a squeeze-out if it holds at least 95% of the capital and voting rights upon completion of the offer. If a squeeze-out cannot be implemented, Match intends to apply with Euronext Paris for a delisting of the Meetic shares.

The public offer will be filed with the French Securities Regulator ( Autorite des marches financiers) in due course. 

"As the founder of Meetic, Marc has made invaluable contributions to the company," said Greg Blatt, CEO of IAC.  "We appreciate what a great partner he has been since we first joined with Meetic in 2009, and are looking forward to our next stage of stewardship of the company."

Meetic is a French stock corporation, with its registered office in Paris.  It is the leader in the European online dating market currently established in 15 European countries, and is available in 11 languages. In 2012, Meetic posted sales of €164,8m and an EBITDA margin of 22.3%.  Meetic is listed in Compartment B of Euronext Paris of the NYSE Euronext (MEET.PA).  

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,880.36 -31.75 -0.19%
S&P 500 1,970.07 +0.12 0.01%
NASDAQ 4,462.9020 +20.2040 0.45%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs