Groupon surges on Google takeover speculation
Groupon Inc. surged to the highest price in three weeks on speculation that Google Inc. might consider buying the online coupon provider.
The shares advanced 23 percent to $4.69, closing at the highest price since Oct. 19. The stock has lost 77 percent of its value since since an initial public offering in November 2011. Groupon CEO Andrew Mason is a Mt. Lebanon native.
The stock plunge since the IPO may spark renewed takeover interest from Google now that Groupon's market value has slipped to $3.07 billion, said Tom Forte, an analyst at Telsey Advisory Group. Google had considered acquiring Groupon for $6 billion the year before its public market debut.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Starkey: Penguins not mortgaging future
- No tag for Worilds; Steelers cut Moore
- Penguins GM Rutherford not counting on Dupuis’ return
- Penguins acquire defensemen Lovejoy, Cole in deadline deals
- Pirates special instructor Tekulve taking second chance to heart
- Pittsburgh’s Downtown tops ranking of small to midsized cities
- Marshals find suspect in fatal Mercer County shooting in Pittsburgh
- Carnegie Mellon expert to school Congress on security
- Rangers up ante in Metropolitan Division with trade acquisitions
- Kelly Clarkson to play First Niagara Pavilion on July 19
- Zoning update raises fears in Ligonier Township