Care.com CRCM shares are trading higher after the company announced it will be acquired by IAC/InterActiveCorp IAC for $15 per share in an all-cash transaction of $500 million.
This valuation represents a 34% premium to Care.com's closing stock price on Oct. 25, the last trading day before a media report was published speculating about a potential sale process. Care.com is an online marketplace for finding and managing family care.
Care.com shares were up 15% to $15. The stock has a 52-week high of $25.81 and a 52-week low of $7.61.
IAC shares were up 1.5% to $242.10. The stock has a 52-week high of $268.72 and a 52-week low of $161.39.
Related Links:
Care.com Investor Sees Company Worth $14-$19.40/Share
'We're Not Empire Builders': IAC/InterActiveCorp, Match Group Will Fully Separate
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