HubSpot shares dropped more than 13% on Wednesday afternoon after a report that Alphabet’s Google was no longer pursuing an acquisition of the software company.
Bloomberg reported that Alphabet was talking to HubSpot earlier this year, but that the two sides “didn’t reach a point of detailed discussions about due diligence.” The report cited people familiar with the matter.
Neither…
shares dropped more than 13% on Wednesday afternoon after a report that
Alphabet
’s
Google was no longer pursuing an acquisition of the software company.
Bloomberg reported that Alphabet was talking to HubSpot earlier this year, but that the two sides “didn’t reach a point of detailed discussions about due diligence.” The report cited people familiar with the matter.
Neither HubSpot nor Alphabet could immediately be reached for comment.
Barron’s reported on April 4 that HubSpot shares jumped after a Reuters report that Alphabet had met with investment bankers at
about a potential offer for HubSpot, including discussions on how much it should bid and whether the acquisition would clear antitrust review. The deal would have been Google’s largest acquisition ever, by a wide margin.
But some analysts expressed doubts about the potential deal’s ability to pass regulatory scrutiny.
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Source Link: https://www.barrons.com/amp/articles/hubspot-stock-sinks-google-deal-db4bd4df
HubSpot shares dropped more than 13% on Wednesday afternoon after a re… – BLOGGER – WP3, deal, Google, HubSpot, report, Scrapped, sinks, stock
