HubSpot (NYSE:HUBS) shares surged more than 9% intra-day today following a Reuters report indicating Alphabet (NASDAQ:GOOGL) is exploring the possibility of making an acquisition bid for the company.
According to sources familiar with the discussions, Alphabet consulted with advisers regarding a potential deal for HubSpot, which is currently valued at $32 billion.
The tech giant also reportedly engaged with investment bankers from Morgan Stanley to deliberate on the offer’s size and the likelihood of obtaining antitrust approval for the proposed merger.