Why FTD Companies (FTD) Stock Is Surging Today

NEW YORK (TheStreet) -- Shares of FTD Companies (FTD) are surging 13.68% to $33.58 in mid-day trading today after the flower company agreed to buy Provide Commerce from Liberty Interactive Corp.  (LINTA) for $430 million in cash and stock.

In exchange, Liberty Interactive will get 10.2 million shares of FTD, representing 35% of the combined company, and $121 million in cash, making make Liberty Interactive FTD's biggest shareholder.

The deal combines Provide Commerce's e-commerce brands with FTD's brands, creating a company with more than $1 billion in annual revenue, expected to be complete by the end of 2014.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Provide Commerce is the umbrella name for several e-commerce flower and gift delivery brands, including ProFlowersShari's Berries, and Personal Creations.

FTD Chart FTD data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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