Reuters on PayPal: Paypal in $45 billion bid for Pinterest -sources

From Reuters:

(Reuters) -Payments giant PayPal Holdings Inc is in talks to buy digital pinboard site Pinterest Inc, according to a person directly familiar with the matter.

The companies have discussed a potential price of $70 per share, which would value Pinterest at around $39 billion, according to Bloomberg News. The price would represent a 26% premium to Pinterest’s closing price of $55.58 on Tuesday.

PayPal and Pinterest did not immediately respond to Reuters’ requests for comment. The source requested anonymity as the discussions are confidential.

PayPal’s shares were down about 3.5%, while Pinterest’s shares were up over 10% at $61.55.

Continue reading Paypal in $45 billion bid for Pinterest -sources on Reuters

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