PayPal Reported to Be Exploring Pinterest Acquisition

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PayPal Reported to Be Exploring Pinterest Acquisition

By Sam Boughedda

Investing.com — PayPal Holdings Inc (NASDAQ: PYPL )is exploring a potential acquisition of Pinterest Inc (NYSE: PINS ), according to a report by Bloomberg, citing people with knowledge of the matter.

Pinterest shares jumped 12% after the report. PayPal shares fell 3%.

California-based payments giant PayPal recently approached social media firm Pinterest about a possible deal, with the companies discussing a possible price of around $70 per share. That would value Pinterest at $39 billion.

A deal at that price would be a premium on Pinterest's closing price of $55.58 on Tuesday.

Bloomberg said its sources did state that transaction terms could alter, and there is no guarantee of a deal. 

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