Alphabet walks away from pursuit of Hubspot: Bloomberg

July 10, 2024 3:12 PM EDT -- Alphabet has walked away from its pursuit of HubSpot, Bloomberg reported Wednesday, citing unnamed sources.

HubSpot Inc (NYSE: HUBS) fell 12% in recent trading.

Earlier this year, Alphabet (NASDAQ: GOOGL) expressed its interest in a deal to acquire the relationship management company, but the two sides didn't progress to talks around due diligence, the unnamed sources told Bloomberg.

The move to shelve plans comes in the wake of rising scrutiny on deals from U.S. antitrust regulators.

Alphabet didn’t immediately reply to Bloomberg's request for comment, while a HubSpot spokesperson declined to comment.

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