Pinterest stock rockets after report says company has held merger talks with PayPal

Shares of Pinterest Inc. PINS, +11.28% are up 11% successful midday trading Wednesday aft Bloomberg News reported that PayPal Holdings Inc. PYPL, -5.82% has approached the institution astir a imaginable deal. PayPal shares are disconnected astir 3% successful Wednesday trading. The Bloomberg story, which cited aggregate unnamed sources, said that the companies person discussed a takeout terms of astir $70 a stock for Pinterest. The banal precocious changed hands astatine $61.76. Pinterest shares were concisely halted for volatility but person resumed trading. Representatives from PayPal and Pinterest didn't instantly supply remark to MarketWatch.