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Stripe and Advent drop $53B bid for PayPal; PayPal shares slide
Stripe and private equity firm Advent International have ended their pursuit of PayPal, according to Axios and Reuters, after offering $60.50 a share. Merchants using PayPal, Venmo or Stripe keep dealing with two separate, independent companies.
Stripe and private equity firm Advent International have abandoned their roughly $53 billion bid for PayPal, according to reports from Axios and Reuters on August 28. The consortium had offered $60.50 per share. Neither company has given a public reason, and PayPal remains independent.