Google Inc., after failing to acquire daily-deals Web site Groupon Inc., said it is preparing to test a competing service that offers deals to local businesses such as restaurants.

The Internet search giant, which on Thursday also announced that co-founder Larry Page would take over as chief executive from Eric Schmidt, didn’t release details about the new effort — Google Offers — that aims to grab a larger share of the small but growing online-ad market for local businesses. Get the full story »