Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

BoA Favors InterActive Spin-Off

Banc of America favors Interactive Corp. (IACI) spin-off.

Analyst Michael Savner says his sum-of-the-parts analysis yields over $30/share for all of InterActive. He values the non-travel business at about $11/share, plus $16 for Expedia, $7.25 in net cash and non-strategic investments equates to about $34/share.

He says the breakup significantly reduces complexity and allows management teams to be more focused. Although there are concern the online travel business is still broken, he thinks the market is already implying a dire scenario for the company's travel business, and implied value should still be higher than it is.

Savner says $29 12-month target is based on a combination of discounted cash flow and price/free-cash-flow.

blog comments powered by Disqus