at this time, the payments company said late on Sunday, responding to media reports that it was in talks to buy the digital pinboard site for as much as $45-billion.
Bloomberg News first reported on the companies’ talks last Wednesday that was later confirmed by Reuters. A source at that time told Reuters that PayPal had offered $70 per share, mostly in stock, for Pinterest.The Pinterest deal would have been the biggest acquisition of a social media company at the reported price, far surpassing Microsoft Corp’s $26.2-billion purchase of LinkedIn in 2016.
Paypal, among the big pandemic winners, has done a few takeover deals this year, including its $2.7-billion acquisition of Japanese buy-now-pay-later firm Paidy. PayPal did not provide additional details in its statement. Both companies also did not respond to requests for comment.