Printed from http://www.electronista.com

OpenTable shares up as Yahoo acquisition rumored

updated 03:41 pm EDT, Mon October 22, 2012

OPEN:US up five percent on Yahoo's interest

Today's rumors that Yahoo is interested in acquiring OpenTable, the largest online restaurant reservation service in the US, caused shares in the service to jump the most they have in more than two months. As of 3:30 p.m. EST, OPEN:US shares were up 5.44 percent to $45.96 per share. Through October 19, OpenTable shares had risen 11 percent for the year.

As Bloomberg details, rumors that Yahoo was interested in acquiring OpenTable started yesterday with a Reuters report that Yahoo CEO Marissa Mayer had "appeared to show interest" in OpenTable as a potential target for acquisition. Reuters cited an unnamed source said to be familiar with the matter, and neither Yahoo nor OpenTable have commented on the matter.

OpenTable currently holds an enterprise value of about $947 million. That total is about half what it was last year. At the end of the second quarter, Yahoo had about $1.9 billion in cash and short term investments, though that figure is thought to have grown by at least $650 billion in the past quarter following the closure of a deal in which the company sold back a stake in Chinese e-retailer Alibaba.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Samsung Galaxy S6 Edge

The Samsung Galaxy S6 range is a critical component in Samsung's flagging smartphone strategy. With sales of its high-end smartphones ...

Notti smart lamp from Witti

Perhaps you've already seen our review of the Dotti LED display from Witti Design. Meet Notti, Dotti's "sibling". Notti is a softball ...

Seagate Personal Cloud (2-Bay)

When it comes to backing up files, many users are now looking to the myriad of cloud storage solutions available. There is no doubt th ...

Advertisement

toggle

Most Commented

 
toggle

Popular News