PayPal Set To Acquire Social Media Firm Pinterest For $45 Billion

The companies have discussed a possible price of $70 per share, which would value Pinterest at around $39 billion.

Payment major PayPal Holdings Inc has offered to purchase digital social media firm Pinterest Inc for $45 billion, said people privy to the development.

According to the report, PayPal has offered $70 per share, mostly in stock, for Pinterest.The online payments platform hopes to successfully negotiate and announce a deal by the time it reports quarterly earnings on November 8.

The possible price of $70 per share would value Pinterest at around $39 billion. The price would represent a 26 per cent premium to Pinterest’s closing price of $55.58 on Tuesday.

PayPal and Pinterest did not respond to the media comment. However, sources said the ongoing discussion is private and confidential.

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