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Stock Market & Financial Investment News

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December 4, 2012
08:44 EDTLINTALiberty Interactive, TripAdvisor deal approved by U.S.
News For LINTA From The Last 14 Days
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July 30, 2014
08:01 EDTLINTALiberty Interactive says still plans to create QVC Group tracking stock
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07:36 EDTLINTAFTD Companies to aqquire Liberty's floral and gifting businesses
FTD Companies (FTD) and Liberty Interactive (LINTA, LINTB, LVNTA, LVNTB) announced that they have executed a definitive agreement under which FTD will acquire Liberty's Provide Commerce floral and gifting businesses. Under the terms of the $430M transaction, Liberty will receive 10.2M shares of FTD common stock representing 35% of the combined company and $121M in cash. FTD and Liberty expect to complete the transaction by the end of 2014. The strategic combination of FTD's brand and floral network with the Provide Commerce collection of consumer gifting e-commerce brands, which include ProFlowers, Shari's Berries and Personal Creations. The transaction will unite two highly complementary businesses, generate material cost synergies and create a team with "best-in-class" operating strategies. Together, FTD and Provide Commerce, each with over $600M in annual revenues, will offer consumers innovative and expansive floral and gift products and an enhanced shopping experience. The combination is expected to generate more than $25M in annual synergies within 36 months of closing, with a goal of creating incremental value for FTD stockholders over time.

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