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This is an archive article published on December 5, 2010

Google bid to buy-out Groupon falls through: Report

Google Inc's multi-billion dollar bid to buy out Groupon Inc has fallen through,according to a report.

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Internet search giant Google Inc8217;s multi-billion dollar bid to buy out online advertising firm Groupon Inc has fallen through,according to a media report.

8220;Google Inc8217;s multi-billion dollar bid to acquire local deals site Groupon Inc ended Friday as the two sides broke off talks,8221; The Wall Street Journal reported,citing a source familiar with the matter.

It seemed as though the negotiations between Google and Groupon were on the verge of completion at one point of time.

However,Groupon8217;s board of directors 8212; many of whom are investors in the company 8212; were unable to reconcile their differences over whether to accept the proposal.

The company continues to remain an independent,privately held firm and plans to come with an IPO in the future,the report noted.

 

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