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PayPal Said It Had No Intention Of Acquiring Pinterest, Causing Pinterest's Share Price To Plummet 12.77%

PayPal Said It Had No Intention Of Acquiring Pinterest, Causing Pinterest's Share Price To Plummet 12.77%

A few days ago, Bloomberg said that PayPal (PYPL.US) intends to buy the picture social networking site Pinterest (PINS.US) to enter the social media market at a high price of US$45 billion. However, PayPal subsequently issued a statement denying that the rumors were inconsistent with the facts. Affected by this news, PayPal's share price jumped 2.70% on October 25, and Pinterest fell 12.71%. Bloomberg reported on the 20th that people familiar with the matter revealed that PayPal is negotiating to buy social media company Pinterest at a price of 70 US dollars per share for a total price of 45 billion US dollars. It is expected to be the largest technology acquisition this year, indicating that PayPal has become Super App Ambition. After the news was exposed, Pinterest's stock price soared 12.77% on the 20th. However, PayPal issued a statement on its official website on the 24th, saying that it "has no intention of acquiring Pinterest at the moment" and positively denies market rumors, which caused Pinterest's share price to plunge 12.71% that day, which was obviously affected by the collapse of the acquisition.
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