PORTLAND — As Groupon inches its way through a turnaround, investors have fixated on the idea of an acquirer swooping in for a quick deal. They better be prepared for a long slog.Groupon shares have surged 89% since February 2, touching a seven-month high of $4.78 on Monday. Chinese internet giant Alibaba disclosed a 5.6% stake on February 12, just after Groupon reported better than expected quarterly results. Last week, Alibaba was seeking a loan of as much as $4 bn, spurring speculation it might seek to buy the company.Yet, Groupon looks overvalued compared with peers, analysts say, making it less attractive to potential acquirers.It is in the middle of an overhaul to jump-start growth and speed up the transition from a daily deal e-mail provider to an online destination for people looking for bargains.Revenue will probably drop 3.5% this year before rising 5.5% next, based on the average of analysts’ estimates compiled by Bloomberg. Meanwhile, Alibaba could find faster-growing in...
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