IAC-owned has set its sights on Europe’s largest dating site, That’s a 11.6 percent increase in value from the closing price of Meetic shares on May 27, 2011 (€13.44) and values the company at nearly 0 million.
Match has put in a public tender offer to acquire all of the outstanding shares of Meetic for €15.00 per outstanding share in cash (that’s .42 in U. actually already owns approximately 27% of the outstanding shares of Meetic, which it obtained when it combined its European businesses with Meetic in 2009.
In comparison, Match.com’s core revenue came in at .3 million in first quarter 2011 (up 18 percent), and subscriber are up 22 percent.
Match says that it plans to file offer with the French Securities Regulator within two to three weeks.
MEETIC is the undisputed leader on the European online dating market with 25.4 million profiles registered on the Meetic site alone since its creation and the largest European audience share* with 19,49% in November 2006 (source: Nielsen/Net Ratings) and 6.4 million unique visitors in November 2006 (source: Comscore).Simoncini will retain the balance of his stake (approximately 1.6 million shares, representing approximately 7 percent of the total number of shares outstanding) and intends to remain on Meetic’s Board.