Why Groupon (GRPN) Is Up Today

NEW YORK (TheStreet) --Groupon (GRPN) was gaining 1.3% to $12 on Friday as the online coupon provider said it closed a deal to acquire Ticket Monster from rival LivingSocial.

Ticket Monster, a subsidiary of LivingSocial Korea, is an e-commerce company that specializes in selling event tickets alongside discounted good and services. Groupon acquired the company for $260 million in cash and stock.

LivingSocial it will sell all 13.8 million Groupon shares it gained from the deal, according to a Groupon regulatory filing. The Chicago-based company won't receive any proceeds from the shares it competitor sells.


GRPN Chart GRPN data by YCharts

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