Big Law
PayPal Dismisses Rumors of a Pinterest Acquisition
PayPal Holdings Inc. said it isn’t pursuing an acquisition of Pinterest Inc., ending days of speculation over a potential $45 billion deal.
San Jose, California-based PayPal had approached Pinterest about a potential deal, Bloomberg News reported last week. The companies discussed a potential price of around $70 a share, people with knowledge of the matter said, a price that would have valued Pinterest at about $45 billion.
“In response to market rumors regarding a potential acquisition of Pinterest by PayPal, PayPal stated that it is not pursuing an acquisition of Pinterest at this time,” the company said in a one-sentence statement Monday.
