Shopping deals provider Groupon is facing another activist investor after Robert Chapman and Krupa Global Investments pushed the company to sell itself. MIG Capital, an investment firm with $1 billion in assets led by Richard Merage, is seeking representation on Groupon’s board.
A Monday regulatory filing revealed that MIG owns 5% of the stock and proposed Merage as a director for election at the company’s 2020 annual meeting, which might be taking place in June based on previous years.
In late August, Chapman Capital said it was reaching out to dissatisfied shareholders to seek support in persuading the management to enter into a strategic partnership or conduct a buyback for $100 million worth of shares. Krupa Global Investments, a Prague, Czechia-based investor, came out in support of Chapman’s ideas.
Late September, the Wall Street Journal reported that Groupon was on the lookout for deals in an effort to fend off activist shareholders, potentially eyeing a merger with Yelp.
MIG did not reveal anything about its strategic ideas for Groupon.