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Oct. 20, 2021, 12:03 p.m. EDT

Pinterest stock rockets after report says company has held merger talks with PayPal

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By Emily Bary

Shares of Pinterest Inc. /zigman2/quotes/211319641/composite PINS -4.63% are up 11% in midday trading Wednesday after Bloomberg News reported that PayPal Holdings Inc. /zigman2/quotes/208054269/composite PYPL -1.72% has approached the company about a potential deal . PayPal shares are off about 3% in Wednesday trading. The Bloomberg story, which cited multiple unnamed sources, said that the companies have discussed a takeout price of roughly $70 a share for Pinterest. The stock recently changed hands at $61.76. Pinterest shares were briefly halted for volatility but have resumed trading. Representatives from PayPal and Pinterest didn't immediately provide comment to MarketWatch.

/zigman2/quotes/211319641/composite
US : U.S.: NYSE
$ 35.84
-1.74 -4.63%
Volume: 11.86M
Dec. 3, 2021 4:00p
P/E Ratio
71.22
Dividend Yield
N/A
Market Cap
$23.37 billion
Rev. per Employee
$665,092
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/zigman2/quotes/208054269/composite
US : U.S.: Nasdaq
$ 183.93
-3.22 -1.72%
Volume: 20.74M
Dec. 3, 2021 4:00p
P/E Ratio
44.30
Dividend Yield
N/A
Market Cap
$216.10 billion
Rev. per Employee
$808,830
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