Yelp Rejects Google Offer (GOOG, AAPL, MSFT)

Yelp CEO Jeremy Stoppleman rejected the $550 million acquisition deal offered by Google (NASDAQ: GOOG). The deal was in the later stages of negotiations with both companies having agreed on a price of around $550 million plus earn-outs.

Yelp notified Google over the weekend that they were not going ahead with the deal. At this moment, there are no other suitors for Yelp although there is a speculation that Apple (NASDAQ: AAPL) or Microsoft (NASDAQ: MSFT) came to Yelp with an offer for a strategic deal that might have influenced the company's rejection of Google's deal.