Angie's List Shares Up 38% After Report Of IAC Deal

Shares of Angie's List Inc. rallied late Monday after The Wall Street Journal reported that IAC Corp. is planning to buy the online referral marketplace for home improvement and other services. According to the report, which cited people familiar with the matter, IAC would combine Angie's List with its HomeAdvisor site and form a new publicly traded company. IAC would pay $8.50 a share, or more than $500 million, for Angie's List. Angie's List had said last year it had hired advisers to review its options, and in the fall of 2015 rejected an unsolicited buyout $512 million cash offer by IAC.