Facebook Close to $38 IPO Price

Facebook Inc. is close to pricing its initial public offering at $38 a share, said a person familiar with the matter, a move that would value the Internet company at more than $100 billion.

Facebook executives and senior bankers on the deal were holed up in a meeting discussing the price and a decision still hasn’t been made final, cautioned the person, noting that the final price could still come in a dollar higher. The company tried floating higher numbers to investors but was rebuffed, said another person familiar with the matter.

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