John Malone's GCI Liberty Exits LendingTree Stake
17 November 2020 - 12:56PM
Dow Jones News
By Colin Kellaher
LendingTree Inc. said a public offering of about 2.96 million
shares held by GCI Liberty Inc. was priced at $295 apiece, well
below Monday's closing price of $324.28, as John Malone's Liberty
empire exits its investment in the online loan marketplace.
GCI Liberty, which had been LendingTree's biggest shareholder
with a roughly 26.6% stake, is selling another 488,005 shares to
Royal Bank of Canada in a concurrent private placement and will no
longer hold any shares, LendingTree said.
The Charlotte, N.C., company added that it expects Courtnee
Chun, GCI Liberty's designee, will resign from its board upon
completion of the public offering.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 17, 2020 06:41 ET (11:41 GMT)
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