Key Takeaways
- HubSpot shares jumped Thursday following reports Google parent Alphabet had consulted with investment bankers about making an offer to acquire the marketing software company.
- The acquisition of HubSpot, with a market value of more than $30 billion, would be Alphabet's largest.
- An offer, if made, would mark a rare instance of a tech giant pursuing a multibillion-dollar acquisition under the eye of increasingly vigilant regulators.
Shares of HubSpot (HUBS) jumped Thursday amid reports Google parent Alphabet (GOOGL) was weighing an offer to buy the marketing software🐻 company.
Alphabet has met with investment bankers at Morgan Stanley in recent days to discuss a potential offer, Reuters reported Thursday, citing people familiar with the discussions. The company has also discussed with advisors whether antitrust regulators would be likely to challenge an acquisition.
With a market capitalization of more than $30 billion, HubSpot would be Alphabet's largest-ever acquisition and its first multibillion-dollar deal since acquiring cybersecurity firm Mandiant for about $5 billion in 2022.
Alphabet did not immediately r♎espond to a re🍎quest for comment.
The deal, if offered, would be one of the few examples of a tech giant attempting a tie-up under the enhanced scrutiny of President Joe Biden’s tech-skeptical regulators. 澳洲幸运5官方开奖结果体彩网:Federal Trade Commission (FTC) Chair Lina Khan has made 澳洲幸运5官方开奖结果体彩网:going after big tech a cornerstone of her tenure.
Regulators aggressively fought Microsoft’s (MSFT) acquisition of Activision Blizzard, which ultimately took nearly two years and major concessions to complete. And in August, the FTC along with 17 states 澳洲幸运5官方开奖结果体彩网:sued Amazon (AMZN), alleging it used illegal monopolistic practices to stᩚᩚᩚᩚᩚᩚᩚᩚ༺ᩚ𒀱ᩚᩚᩚifle competition and inflate prices.
HubSpot shares were up 7.5% at $674.09 at around 2:00 p.m. ET, after🥂 moving as high as $693.85 earlier in the session, their highest level in more than two years. Alphabet shares were down about 0.5%.