San Jose, California-based PayPal has recently approached Pinterest about a potential deal, the people said, asking not to be identified because the talks are private. The companies have discussed a potential price of around $70 a share, the people said.
That would value Pinterest at about $45 billion for the entire company, including its Class B shares. A deal at that level would represent about a 26% premium to Pinterest’s Tuesday closing price of $55.58.
Pinterest shares surged 13% to $62.92 each at 2:09 p.m. in New York trading Wednesday, after earlier triggering a trading halt. Shares of PayPal were down 5.7%, giving the company a market capitalization of about $301 billion.
finance.yahoo.com/news/paypal-exploring-purchase-pinterest-155003314.html