GoKawiilStripe and Advent walk away from potential $53 billion PayPal buyout
Stripe and private equity firm Advent have dropped their pursuit of acquiring PayPal, according to people familiar with the matter cited by Bloomberg. The pair had reportedly offered around $53 billion in July when PayPal shares were depressed, but PayPal rejected the bid and was said to be awaiting a higher offer before the talks collapsed.
GoKawiil's interpretation of the reporting above, not reported fact.
PayPal's stronger-than-expected quarterly results sent its stock up roughly 40 percent, likely making a leveraged buyout of that scale financially unworkable for Stripe's group. The failed deal also highlights how new CEO Enrique Lores' restructuring efforts, splitting PayPal into checkout, Venmo and crypto units, may be starting to reassure investors after years of decline from its pandemic-era $320 billion peak.
- Stripe and Advent have abandoned their reported $53 billion bid for PayPal.
- PayPal's stock surged 40 percent after strong earnings, likely raising its price beyond feasibility for a leveraged buyout.
- Bloomberg notes Stripe and Advent could still revisit a bid for PayPal in the future.
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Published there as: “Stripe-led group is reportedly abandoning its PayPal acquisition”
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