PayPal is in late-stage talks to acquire Pinterest

• Pinterest is in late-stage talks to be acquired by PayPal, a source familiar with the matter told CNBC.
• Shares of Pinterest soared Wednesday after Bloomberg first reported PayPal may acquire the social media company.
• PayPal has discussed acquiring the company for a potential price of around $70 a share, which would value Pinterest at about $39 billion, according to Bloomberg.

PayPal is in late-stage talks to buy social media company Pinterest, a person familiar with the matter told CNBC. This person asked to remain anonymous because the deal discussions were confidential.

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