Investors of online coupon provider Groupon Inc had a Gala time when the share price increased by 23% in New York to close at $4.69, due to the speculation in market of internet giant Google Inc considering buying the company. The share price was at its highest since last three weeks.
The stock sliced to 77% of its loss from the time of its IPO in 2011 November.
The speculated market:
According to an analyst at the Telsey advisory group, Tom Forte, Groupon Inc plunge to a market value of $3.07 billion may have ignited a takeover interest from Google Inc side. Earlier this year Google Inc had an interest in acquiring Groupon Inc for a sum of $6 billion before the firm went public.
Spokesman Paul Taaffe for Groupon Inc as well as spokeswoman Katelin Todhunter-Gerberg for Google Inc did not comment over the speculation even though analyst Tom Forte revealed that considering the price at which Groupon Inc is trading at it is definitely a takeout candidate for Google Inc.
Since Groupon Inc went public, the growth has slowed down and the daily deals demand has decreased. Keeping the core business afloat and foraying into new areas for new sources of revenue has been a Herculean task for the Chief Executive officer Andrew Mason.
Exxon CEO Tillerson’s salary go higher
Mr. Rex Tillerson, the chairman and CEO of Exxon Mobil Corporation is awarded with a higher salary and increased bonus with effect from the next year.
Board of directors of the company announced that from the next year Mr.Tillerson will get 5% increase in bonus, which comes to $ 4.59 million, as compared to $4.37 million last year according to the Tuesday filling with the U.S. Securities and Exchange Commission.
Tillerson’s salary will go up 5 % to $2.71 million effective from January 1.
At the end of the year the CEO will receive half of his bonus in cash and rest of the amount in companies earning. As in the last year he is granted with 225,000 shares of company’s restricted stock.
Exxon Mobil Corporation’s shares were gone up by 3% .year to date. According to the afternoon report published on the New York Stock Exchange the shares are declined by .03% and closed at $87.37.