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Put PinPal, Paytrest and all of the other puns on hold, as payments giant PayPal said Sunday that it is not pursuing an acquisition of Pinterest.
Ed Hammond and Liana Baker of Bloomberg were the first to report on talks between the two companies last week, with published reports pegging the offer at roughly $70 per share, which would value the deal at approximately $45 billion. Neither PayPal nor Pinterest officially confirmed the discussions.
PayPal said in a brief, one-sentence statement on its website Sunday, “In response to market rumors regarding a potential acquisition of Pinterest by PayPal, PayPal stated that it is not pursuing an acquisition of Pinterest at this time.”
The deal would have been the largest in the consumer internet sector over the past decade, besting Salesforce’s