Market Overview

OpenTable Sympathy Companies On Fire

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Priceline (NASDAQ: PCLN) announced the acquisition of OpenTable (NASDAQ: OPEN) and will be paying more than a 46 percent premium over OpenTable’s Thursday close.

The massive $2.6 billion acquisition has sent investors scrambling for shares for similar companies as industry valuation has changed.

OpenTable shares ripped higher after awaking from the halt and are up 47.66 percent to $104.04.

Related Link: Priceline To Acquire OpenTable At Massive Premium

The following is a list of peers that are moving on the action:

Yelp (NYSE: YELP) shares are up 9.55 percent

Groupon (NASDAQ: GRPN) shares are up 7.08 percent

LiveDeal (NASDAQ: LIVE) shares are up 12.11 percent

Angie’s List (NASDAQ: ANGI) shares are up 4.67 percent

Tripadvisor (NASDAQ: TRIP) shares are up 3.13 percent

Expedia (NASDAQ: EXPE) shares are up 1.23 percent

Posted-In: News M&A Best of Benzinga

 

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