Deals
PayPal to Acquire Xoom for $890 Million Ahead of EBay Split
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EBay Inc.’s transaction business PayPal agreed to purchase Xoom Corp., a service for sending international money transfers, in a deal valued at $890 million.
PayPal will acquire Xoom for $25 per share in cash, a 21 percent premium to Wednesday’s closing price of $20.70, the San Jose, California-based company said in a statement. The purchase is expected to slightly reduce PayPal’s earnings per share for fiscal 2016, the company said.