Chicago – Google (NASD: GOOG) has come up empty in its multi-billion
dollar bid to acquire Chicago-based group buying service Groupon, The Wall
Street Journal reported. Citing a person familiar with the matter, the Journal
reported that the two companies broke off talks on Friday, after Groupon’s
board of directors was unable to reach a consensus.
All Things D earlier
reported that the deal consisted of $5.3 billion up front, plus the potential
for another $700 million in earn-outs.
Another publication, Chicago Breaking
Business, reported that Groupon chose to remain independent with an eye on
pursuing a possible initial public offering (IPO) sometime next year.
closest rival, LivingSocial, last week landed a $175 million investment from
(Chicago Breaking News)