Shares of Pinterest Inc. PINS, +12.36% are up 11% in midday trading Wednesday after Bloomberg News reported that PayPal Holdings Inc. PYPL, -5.96% 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.
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