, Columnists
OpenTable Comes Back to Bite
After years of pricey M&A, some companies may face a reckoning.
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Oof, that hurts.
Late Monday, when reporting its third-quarter earnings, Priceline Group Inc. surprised the market by writing down the value of OpenTable by $941 million. That's more than a third of the $2.6 billion it paid for the online restaurant-reservation service just two years ago.