Benchmark Maintains IACI Rating As The Company Acquires 12.8 Million Shares Of Liberty Media

IAC/InterActiveCorp IACI acquired 12.8 million shares of its stock (12%), valued at $368 million as of yesterday's close, from Liberty Media for $220 million ($17.19 per share) and two of its Media websites, Benchmark reports. “We believe the valuation achieved is attractive while reducing ownership complexity. Although governance is still not ideal with Barry Diller controlling 34% of the vote, this is down from 62%,” Benchmark writes. “We maintain a Hold rating.” IAC/InterActiveCorp currently trades at $29.31.