Market Overview

OpenTable Up On Rumor Priceline Could Be Outbid

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OpenTable (NASDAQ: OPEN) spiked Monday on a rumor that Priceline's (NASDAQ: PCLN) $2.6 billion offer could be topped by another bidder.

Such a bid is "unlikely but can't be ruled out," according to dealReporter, which cited unnamed sources it described as an industry banker and an industry executive.

The most likely counter-bid would come from Yahoo, dealReporter said its banking source believes.

DealReporter's rumor was the subject of a brief item on Bloomberg news service.

Analysts have said previously that Google and Microsoft may be interested in the online restaurant reservation sector.

OpenTable traded recently at $105.33, up 0.63 percent. Earlier it traded as high as $106.

Posted-In: dealREPORTERNews Rumors

 

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