Payments: Investors sink PayPal-Pinterest merger

PayPal’s bid to acquire Pinterest collapsed this week after shareholders expressed strong doubts, said Orla McCaffrey and Cara Lombardo in The Wall Street Journal. The $37 billion deal combining the payments company with the digital pinboard site “would have been one of the biggest mergers of the year.” But PayPal’s shares sank 12 percent on news of the deal, “a sign that investors doubted its wisdom.” The company is trying to expand its role in digital commerce and saw “a unique opportunity” in Pinterest and its 454 million active users. Investors felt differently.