Report: Groupon Spurns Google's Takeover Attempt

By: The Associated Press
By: The Associated Press

SAN FRANCISCO (AP) -- Published reports are saying that Google's attempt to buy local-coupon site Groupon appears to have failed for now.

Groupon, whose ties to local merchants and some 18 million subscribers in North America made it a company worth potentially $5 billion to $6 billion to Google, has decided to stay independent for now, and may pursue an initial public offering of stock.

That's according to reports in the Chicago Tribune, The Wall Street Journal and The New York Times, which are based on unnamed sources close to the negotiations. Groupon is based in Chicago.

Messages by The Associated Press for Google and Groupon representatives were not immediately returned Saturday.

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  • by Anonymous on Dec 4, 2010 at 06:44 PM
    This is a perfect way to increase an IPO. Have a mega corporation be interested in buying it. Too bad google did not want some of the junk stock like GM, chrysler and daimler.
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