Alphabet Shelves Plans to Acquire HubSpot, Shares Plunge 18%

Jul 10, 2024, 06:23 PM

Google parent Alphabet has decided to shelve its interest in acquiring HubSpot, a software company. This decision has led to a significant decline in HubSpot's stock price, which plunged by as much as 18%. The news has been confirmed by multiple sources, including Bloomberg. HubSpot's last trade was at $485.40, reflecting the market's reaction to the shelved acquisition plans. The stock saw declines of 14% and 16% at different points. The potential acquisition, if it had proceeded, would have been one of the largest deals of the year.