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Pinterest stock is jumping on a report that said PayPal was exploring a potential acquisition of the social media company.
Paypal (ticker: PYPL) was looking to acquire Pinterest (ticker: PINS) at around $70 a share, which would value the social media site at roughly $39 billion, people familiar with the deal told Bloomberg. The terms could still change, and there is no certainty the talks will lead to an agreement, Bloomberg said.