Angie's List targeted for hostile takeover

IAC/InterActiveCorp launched a hostile bid to buy Angie's List, a move that could combine two of the sites used by consumers to find contractors and other service providers.

The bid was $512 million in cash, representing a 10 percent premium above the company's market value at the closing of trade yesterday.

Shares climbed as much as 17 percent after hours on the news.

Angie's List counts some 3 million customers nationwide, which use the service to find providers in 720 categories, ranging from home improvement to health care.

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