02:56 PM EDT, 07/10/2024 (MT Newswires) -- (Updates with stock price changes in last paragraph.)

Alphabet (GOOG) shelved its effort to acquire HubSpot ( HUBS ) , Bloomberg reported Wednesday, citing people with knowledge of the matter.

Though Alphabet communicated its interest in a deal earlier this year, the sides didn't reach a point of detailed discussions around due diligence, Bloomberg said.

An Alphabet representative didn't give an immediate comment, while a HubSpot ( HUBS ) spokesperson declined a request for comment, according to the report.

Alphabet, Google's ( GOOG ) parent, and HubSpot ( HUBS ) didn't immediately respond to requests for comment from MT Newswires.

HubSpot ( HUBS ) shares tumbled 12% in recent trading following a brief trading halt. Alphabet shares were up 1.4%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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