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PayPal Offers $45 Billion to Acquire Pinterest


Wed 20 Oct 2021 | 10:31 PM
Taarek Refaat

PayPal has offered to buy digital Pinboard website "Pinterest" for $45 billion, people familiar with the matter said Wednesday.

The deal comes as online shopping increased significantly, and acquiring Pinterest will allow PayPal to get more e-commerce growth and persify its income through advertising.

One source said PayPal offered $70 a share, mostly in stock, to Pinterest. "PayPal's offer represents a 26% premium over Pinterest's closing price of $55.58 on Tuesday. "PayPal shares fell more than 4% on the news, while Pinterest shares rose more than 14% to $63.51," Reuters said.

"The source added that the online payments provider hopes to successfully negotiate and announce a deal by the time it announces its quarterly earnings on November 8."