Sunday, 14 April 2024
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Alphabet talking to advisers about acquiring HubSpot

S&P 500 takes hit from Google rout, hawkish Fed speak

HubSpot (NYSE:) stock jumped Thursday after a report from Reuters said that Alphabet (NASDAQ:) is reportedly in talks with advisers about a potential offer for the company.

Citing people familiar with the matter, the publication said Alphabet has been speaking with its advisers about the potential of making an offer for the software company, which has a market value of $32 billion.

Google’s parent company is said to have met with investment bankers at Morgan Stanley recently to discuss how much it should offer and whether antitrust regulators would clear such a tie-up.

However, it has not yet submitted an offer to HubSpot, according to Reuters. The publication also states there is no certainty it will do so. If Alphabet were to pursue a deal, it would allow Alphabet to put some of its $110.9 billion cash pile to work.

At the time of writing, HUBS shares have jumped almost 9%, with the stock currently trading at $683 per share. For the year-to-date, it has gained almost 10%, while over the last 12 months, the stock has climbed over 51%.

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