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Match approaches Meet with takeover offer: Bloomberg

Published 2020-02-06, 02:16 p/m
Match approaches Meet with takeover offer: Bloomberg

(Reuters) - Tinder-owner Match Group (O:MTCH) has approached social networking app developer Meet Group (O:MEET) about a takeover, Bloomberg reported on Thursday, citing people familiar with the matt

No final decision has been made and Match Group could decide to not proceed with a deal, the report noted.

Meet Group, which has been focusing on expanding its live-streaming platforms, has struggled to challenge the dominance of Match Group in the dating domain.

In December, Reuters had reported that German broadcaster ProSiebenSat.1 Media SE's (DE:PSMGn) e-commerce arm, NuCom Group, was exploring the acquisition of Meet Group.

Shares of Meet Group, whose primary apps include MeetMe , LOVOO, Skout, Tagged and Growlr, surged about 21% to $6.74 after the report, while Match Group shares rose 8.2%.

Match Group declined to comment on the report and Meet Group did not respond to requests for comment.

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