Recent reports claim that a Paypal (NASDAQ:PYPL) and Pinterest (NYSE:PINS) deal that would bring the two companies together may be in the works.
Let’s jump into that news below to see what’s going on here.
- According to these reports, Paypal is looking to acquire Pinterest in a $45 billion deal.
- The insiders with knowledge of the deal claim that this will have Paypal acquiring PINS stock for $70 per share.
- Reports of the deal broke on Wednesday and the offer from Paypal is nothing to sniff at.
- Based on PINS stock’s closing price on Tuesday, the offer is a close to 26% premium.
- Of course, neither Paypal nor Pinterest has confirmed the acquisition news.
- Even so, the idea of Paypal picking up Pinterest makes sense.
- Paypal has been picking up other companies since being spun off of eBay (NASDAQ:EBAY) in 2015.
- Specifically, it’s had a focus on companies tied to e-commerce.
- Considering that PINS allows for purchases through its app, it’s a believable target for PYPL.
- Unfortunately, it doesn’t look like investors in either company are excited about the deal.
- Both are seeing their shares fall on Thursday with heavy trading.
- In the case of PYPL stock, shares are down 5.2% with some 15 million changing hands.
- That’s well above its daily average trading volume of 6.4 million shares.
- PINS stock is slipping 2.5% as of this writing with some 13 million shares on the move.
- The company’s daily average trading volume is 11.4 million shares.
Investors looking for more stock market news are in luck!
We’ve got all the latest news that traders need to know about today. That includes Digital World Acquisition (NASDAQ:DWAC) jumping on Trump talk, why EV stocks are on the rise, as well as this morning’s pre-market stock movers. You can find all of that info at the following links!
More Stock Market News for Thursday
- DWAC Stock Surges 90% on Trump’s Truth Social SPAC News. Here’s What to Know.
- EV Stocks: Why LEV, HYLN, LI, NKLA and EVGO Are Driving Higher Today
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
