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Baidu in the crosshairs as top O2O rivals merge; Groupon higher

Baidu (BIDU -1.2%) is off moderately in early trading after top Chinese local deals site Meituan.com (backed by Alibaba) announced a merger with #2 deals site and leading restaurant review platform Dianping.com (backed by Tencent), with the goal of creating a giant in the online-to-offline (O2O) services space.

Meituan/Dianping sport a combined $15B valuation. U.S. local deals leader Groupon (GRPN +2.7%), which sports only a $2.4B market cap, is trading...


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