Stripe Decides to Abandon Its Acquisition of PayPal, Previously Reported to Have Bid Over $50 Billion

Odaily News: A consortium formed by payment giant Stripe and private equity firm Advent International has decided to abandon its plans to acquire PayPal. Previously, the consortium had submitted an acquisition proposal to PayPal valued at over $50 billion, with market sources indicating that the offer was approximately $53 billion. Insiders familiar with the matter spoke on condition of anonymity as the information has not been made public. Advent, Stripe, and PayPal all declined to comment.

However, insiders noted that the situation could still change, and Advent and Stripe may revisit an acquisition proposal in the future. (Bloomberg)