Stripe and Advent Drop Bid for PayPal After Stock Surge
Stripe and buyout firm Advent International have reportedly ended their pursuit of PayPal, according to people familiar with the matter. The potential deal, which could have exceeded $50 billion, would have ranked among the largest leveraged buyouts ever. PayPal's better-than-expected quarterly results and a 40% stock jump made the acquisition less financially viable.
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Original headline: “Stripe-led group is reportedly abandoning its PayPal acquisition.” Browse more stories.