finance.yahoo.com

Stripe and Advent Withdraw Takeover Bid for PayPal

PayPal logoPayPal
Sig2.65Sen-4.20Env0.00Soc0.00Gov+0.40

Shares of PayPal fell as much as 14% in after-hours trading after reports that Stripe and private equity firm Advent pulled their takeover bid. Earlier, the consortium’s initial offer was said to be too low, with talks for a higher price ending when the buyers withdrew. The company is also undergoing a leadership reset under CEO Enrique Lores.

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