What's the Best Outcome for Pinterest Shareholders After More Buyout Rumors?
Pinterest (NYSE: PINS) has been getting whipsawed around, and not just because of extreme market volatility in recent weeks. It was an exceptionally busy summer. Co-founder and CEO Ben Silbermann stepped down, replaced by Bill Ready -- former president of Alphabet's (NASDAQ: GOOGL)(NASDAQ: GOOG) Google Commerce. Then investment management firm Elliott Management took a large stake in both Pinterest and PayPal (NASDAQ: PYPL). With all of that shuffling around, it's no wonder rumors have been flying that Pinterest is going to get acquired.
Elliott is reportedly pushing for some sort of sale, and the fact PayPal was interested in buying Pinterest last year makes it seem less than coincidental that Elliott owns shares in both companies. But then there's Ready's old ties with Google, not to mention cryptic messages from Alphabet CEO Sundar Pichai (maybe) suggesting that the search giant might be interested, too.
Is a buyout the best outcome for Pinterest shareholders? Maybe. But I'd love for Pinterest to remain independent to see where it goes over the next few years.
Source Fool.com
