NEW YORK — Angie’s List says that its board has rejected a $512 million takeover deal from IAC/InterActiveCorp, parent company of Golden-based HomeAdvisor.
The home services review site said IAC’s unsolicited offer last week “dramatically undervalues” the company. IAC offered $8.75 for each share of Angie’s List, which was a 10 percent premium on the stock at the time.
Shares of Angie’s List closed Tuseday at $9.96, up 1.32 percent.
Angie’s List said it has a plan to grow its profit and said a deal with IAC will not benefit shareholders.
IAC did not immediately respond to a request for comment.
IAC’s CEO Joey Levin said in a statement last week that the combination of HomeAdvisor and Indianapolis-based Angie’s List would “cement our position as the premier home services platform.”
Both companies let users research, shop for and rate plumbers, cleaners and other home services.
