PayPal shares sink on reported collapse of Stripe-Advent takeover deal
What's happening
Advent International and Stripe have reportedly abandoned their pursuit of PayPal, ending talks around a roughly $50-$53 billion takeover. The collapse of the proposed deal sent PayPal shares sharply lower, tumbling as much as 16% in premarket trading and falling more than 13% in another report. The bid had been described as one of the largest fintech acquisitions ever and its withdrawal erased an acquisition premium that had been priced into PayPal stock.
Why it's trending
Market pricing had been built around the takeover premium, so news that the Advent-Stripe consortium walked away triggered an immediate sell-off.
Signal4.0× its usual volume, confirmed across 1 independent source type.
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If the biggest fintech takeover in recent memory just died, that might be a buying signal for long-term PayPal holders, not the end of the story for payments consolidation.
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Original sources8
- Why PayPal (PYPL) Shares Are Plunging TodayStockStoryAug 28
- Stripe, PayPal Move On After Purchase Talks Collapse
Stripe and private equity firm Advent International have ended their $53 billion pursuit of PayPal. The proposed deal had been rumored since February and reported widely over the past month. Had it been completed, the deal would have been the largest fintech acquisition in history. According to reporting in Reuters, PayPal found the initial bid […] The post Stripe, PayPal Move On After Purch
PaymentsJournalAug 28 - PayPal shares sink on reported collapse of Stripe-Advent takeover deal
Shares in PayPal plummeted more than 13% on Friday on reports that Stripe and Advent International have pulled out of their takeover bid for the payments giant.
FinextraAug 28
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