Friday, September 17, 2021

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Groupon: Gets New Activist Investor

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Groupon: Gets New Activist Investor

  • Richard Merage, the man who created Hot Pockets, disclosed stake that he bought in Groupon
  • The filing also said that Merage will possibly engage in discussions with the board of directors
  • Merage and his family sold their company Chef America — best known for the Hot Pockets brand — to Nestlé in 2002 for $2.6 billion
  • Groupon shares closed at $2.375 on Monday, 1.3 percent higher than they had been
  • The company went public in 2011, and started trading at $28, but it has not seen that kind of price since
  • Groupon recently partnered with travel industry connector DerbySoft

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