Is Pinterest Waving The White Flag in PayPal Talks?
Pinterest (NYSE: PINS) shares popped Wednesday on news that the company is in talks with fintech giant PayPal (NASDAQ: PYPL) to be acquired for $70 a share.
Naturally, the stock reacted positively to the news, as Pinterest shares had closed Tuesday's trading below $56 a share. PayPal's purported offer price, according to the story first reported in Bloomberg, represented a 26% premium to where it closed on Tuesday.
This isn't the first time Pinterest has been pursued by a tech giant. Microsoft reportedly considered acquiring Pinterest for $51 billion earlier this year, and that's more than the $45 billion PayPal would shell out.
Source Fool.com
