USA Interactive will acquire LendingTree Inc. for $722 million in stock, giving the company entry into the financial services arena.
The deal gives New York-based USA Interactive, which already owns Ticketmaster and the Home Shopping Network, access to more than 200 participant online lenders. Since its inception, Lending Tree has reportedly facilitated nearly $48 billion in closed loans.
Under the agreement, LendingTree shareholders will receive 0.6199 of a share of USA common stock for each share of LendingTree common stock that they own.
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