Why Google backed out from biggest technology deal of the year 2024

Alphabet halted acquisition talks with HubSpot to enhance competitiveness. HubSpot’s stock dropped 12% to $492.31, valuing it at $25 billion—its largest decline since 2020. Antitrust concerns under Biden’s administration impacted the decision. The deal, rivaling Synopsys’s $34 billion Ansys takeover, was considered earlier this year. HubSpot’s stock had peaked at $682.