TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Groupon surges on Google takeover speculation

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

GRPN $4.69 +$0.88

at close on FRIDAY

Daily Photo Galleries

By Douglas Macmillan C.2012 Bloomberg News
Saturday, Dec. 8, 2012, 12:01 a.m.
 

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

Most-Read Stories

  1. House fire quickly snuffed in Ford City
  2. Rossi: Brawl for ADs between Pitt and WVU
  3. Samples show Plumcreek gas leaks aren’t methane
  4. Project Joy lifts Christmas spirits at Armstrong County Health Center
  5. Fleury’s career-best 6th shutout lifts Penguins over Avalanche in overtime
  6. Armstrong County adopts $20.7 million budget, maintains tax rate
  7. Veteran tight end Miller’s blocking skill crucial to success to Steelers running game
  8. Analysis: Misunderstood Chryst served Pitt well
  9. 8 Western Pennsylvania hospitals penalized over infections
  10. Steelers must be creative in providing snaps for linebackers
  11. With Pittsburgh charges, feds target Uganda-based counterfeiting ring
Subscribe today! Click here for our subscription offers.