Deals
Google Parent Alphabet Shelves Efforts to Acquire HubSpot
- Parties didn’t get to due-diligence stage in deal talks
- HubSpot drops most since 2020, down further from April peak
Google parent Alphabet Inc. has shelved efforts to acquire HubSpot Inc., according to people with knowledge of the matter, putting to bed the prospect of a takeover that would have ranked among the biggest of the year.
Shares of HubSpot, a customer relationship management company, fell as much as 19% Wednesday in New York trading, the most since 2020. The shares closed down 12% to $492.31, giving the company a market value of about $25 billion.