Zynga (ZNGA) Victim of PR Hoax; Not Being Acquired by Baidu (BIDU)
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It appears Zynga (NASDAQ: ZNGA) has been the victim of a press release hoax.
A press release distributed by free press release service PR Urgent stated that "Baidu Inc. (NASDAQ: BIDU) announced today its intent to acquire Zynga, Inc. (NASDAQ: ZNGA), with Baidu offering to buy Zynga for $10.00 per share in cash."
While the press release was made to look official, complete with quotes from executives and forward-looking statements, it is 100% false.
A copy of the fake press release can be seen here.
After zipping around in pre-market trading on the fake release, shares of Zynga have settled down and are currently higher by 2.2 percent to $3.26.
A press release distributed by free press release service PR Urgent stated that "Baidu Inc. (NASDAQ: BIDU) announced today its intent to acquire Zynga, Inc. (NASDAQ: ZNGA), with Baidu offering to buy Zynga for $10.00 per share in cash."
While the press release was made to look official, complete with quotes from executives and forward-looking statements, it is 100% false.
A copy of the fake press release can be seen here.
After zipping around in pre-market trading on the fake release, shares of Zynga have settled down and are currently higher by 2.2 percent to $3.26.
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