Google’s bid for Groupon falls through – report

NEW YORK, Dec 3 (BestGrowthStock) – Google Inc (Read more about Google Stock Analysis)’s attempt
to acquire discount coupon provider Groupon has fallen though,
according to the technology web site AllThingsD.com.

“It’s as over as these things get,” the site said, quoting
one person close to the situation.

The reasons for the collapse of the talks were not
immediately clear, “but it seems to center on the decision by
the social buying site to remain independent and perhaps go
for an IPO,” AllThingsD said.

The two companies had been in direct negotiations on
Wednesday, sources told Reuters. But they said the deal could
run into antitrust scrutiny.

Groupon said on Wednesday it would not address any
speculation about its business, an apparent reference to media
reports that Google was close to buying it for $6 billion.

Chicago-based Groupon’s global network has more than 33
million subscribers in 35 countries. It sends its members
daily e-mails with details of discounts for 200 goods and
services. The deals are activated only when a minimum number
of people agree to make a purchase, giving Groupon the clout
to negotiate steep group discounts on products and services.

(Reporting by Steve James)

Google’s bid for Groupon falls through – report