Is Google Interested in Buying Groupon Again?
Groupon’s shares surged nearly 23 percent on Friday to finish at $4.68. While early takes on the boost to Groupon’s struggling stock price pegged this on short sellers reaping their profits now, Bloomberg reports that the dramatic increase is based on speculation that Google, which saw its $6 billion offer to the daily-deals company turned down two years ago, has renewed interest in buying Groupon. “”Where the stock is currently trading, it’s a takeout candidate,” said an analyst. “If Google was interested at $6 billion, I think it’s a possibility.” Google’s shares finished Friday down 1 percent. Getting Groupon at such a hefty discount would certainly be a form of sweet revenge for Google. This rumor also comes as Google replaces the head of its in-house mergers and acquisitions group. Don Harrison, a high-ranking lawyer at Google, will replace David Lawee. (Bloomberg, WSJ.com, Reuters)
