Xoom Shares Rally On PayPal Acquisition Deal

By Wallace WitkowskiMarketWatch Pulse

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.

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