Alphabet (GOOGL) has put aside efforts to buy HubSpot (HUBS), putting to bed the prospect of an acquisition that would have been one of the largest of 2024, Bloomberg’s Ryan Guold reports, citing people with knowledge of the matter. The Google parent had expressed its interest in a potential deal with the company earlier this year, but both parties failed to reach a point of detailed talks around due diligence, the author notes. HubSpot shares dropped over 12% after the news.
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