Stripe, Advent’s PayPal acquisition plans reportedly fall through
PayPal reportedly rejected a takeover offer last month over concerns it undervalued the fintech. Read more: Stripe, Advent’s PayPal acquisition plans reportedly fall through
PayPal turned down a takeover bid from Stripe and private equity firm Advent International last month, citing concerns over the offer's undervaluation, according to Bloomberg News. The deal fell through, as reported by Bloomberg. The potential acquisition, valued at $60.50 per share, would have priced PayPal at over $53 billion, a 28% premium to its mid-July share price.
Despite the rejection, PayPal's shares surged nearly 10% in the past month, reaching a market capitalization of $52.5 billion. The fintech also reported a 5% increase in net revenue in the second quarter. Earlier this year, PayPal appointed Enrique Lores as its new CEO, replacing Alex Chriss, whose performance was deemed unsatisfactory. Talks of a Stripe acquisition of PayPal had been ongoing for months.
Written by urgent.news from Silicon Republic's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Advent, Stripe abandon US$50 billion pursuit of PayPal: Bloomberg businesstimes.com.sg
- Advent, Stripe abandon $63.5b pursuit of fintech pioneer PayPal straitstimes.com
- Advent and Stripe abandon $53bn PayPal takeover privateequitywire.co.uk
- Advent, Stripe consortium is said to drop pursuit of PayPal, Bloomberg News reports investing.com
- Zahlungsdienst: Advent und Stripe geben offenbar Übernahme von Paypal auf handelsblatt.com
- Advent, Stripe Reportedly Drop PayPal Pursuit; PayPal Shares Drop nasdaq.com
- Advent, Stripe consortium is said to drop pursuit of PayPal economictimes.indiatimes.com
- Stripe, Advent abandon pursuit to acquire PayPal: report seekingalpha.com
