PayPal says it is not pursuing Pinterest acquisition
In this article (4)
PayPal is not pursuing an acquisition of Pinterest at this time, the online payments provider said on Sunday, responding to market rumors.
Earlier in the week, it was reported that the payments behemoth had offered to buy digital pinboard site Pinterest for US$45 billion, or about $70 per share, mostly in stock.
Pinterest did not immediately respond to a Reuters request for comment outside of business hours.
Questions & Answers
Q.What prompted PayPal's statement regarding Pinterest?
What prompted PayPal's statement regarding Pinterest?
PayPal's statement was a direct response to market rumours circulating earlier in the week. These reports suggested that the online payments provider had made an offer to acquire Pinterest.
Q.What value was reportedly placed on Pinterest in the alleged acquisition offer?
What value was reportedly placed on Pinterest in the alleged acquisition offer?
The reported offer for Pinterest was US$45 billion, or approximately $70 per share. This proposed acquisition was said to be mostly in stock rather than cash.
Q.Has Pinterest commented on the acquisition reports?
Has Pinterest commented on the acquisition reports?
Pinterest did not immediately respond to a request for comment. The request was made outside of business hours, so a response was not forthcoming at that time.
Reader pulse
What does PayPal's decision signal for its strategy?
23,693 votes so far