Angie's List rejects IAC/InterActiveCorp's buyout offer

Angie's List app screens
Source: Angie's List

Angie's List rejected IAC/InterActiveCorp's proposal to buy the consumer review website operator for about $512 million.

Angie's List said on Tuesday IAC's proposal "dramatically undervalues" the company and its long-term standalone prospects.

Barry Diller's IAC, which owns Investopedia, video-sharing website Vimeo and mobile dating app Tinder, offered to buy Angie's List for $8.75 per share last week.