Published July 1, 2015 5:52pm EDT | Updated July 23, 2015 1:48pm EDT

Xoom Shares Rally On PayPal Acquisition Deal

Shares of Xoom Corp. rallied in the extended session Wednesday after PayPal Inc. -- soon to be separate from eBay Inc. -- offered $890 million for the digital money-transfer company. Xoom shares surged 12% to $23.13. PayPal's offer for Xoom works out to $25 a share. PayPal expects the deal to close in the fourth quarter.