Naz News, Gappers and FLE's

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YELP off a cliff today...was halted for volatility, now resumed....

From Bloomberg...

Yelp Inc., which hired Goldman Sachs Group Inc. to find a buyer, has temporarily decided not to pursue a sale, people with knowledge of the matter said.

The consumer-review website has had several interested suitors but isn’t pursuing a transaction in the immediate future, the people said, asking not to be identified because the information is private. San Francisco-based Yelp may pursue a deal again if co-founder and Chief Executive Officer Jeremy Stoppelman changes his mind, one of the people said.

Yelp dropped 12.2 percent to $37.26 as of 2:05 p.m. in New York, giving the company a market value of about $2.8 billion. Bloomberg and the Wall Street Journal reported in May that Yelp was working with a bank to explore a sale. Yelp hired Goldman Sachs after receiving takeover interest, one of the people said.