Stripe and Advent Abandon $53 Billion Takeover of PayPal
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Stripe and private equity firm Advent International have abandoned their pursuit of PayPal, ending an attempt to acquire one of the largest names in digital payments for more than $53 billion. The consortium had offered $60.50 per PayPal share in July, but PayPal's board viewed the proposal as inadequate and raised concerns about regulatory and financing hurdles. PayPal had not formally responded to the offer before Stripe and Advent decided to end their pursuit. The proposed acquisition would have been a dramatic reset for a company that was valued at roughly $360 billion during the pandemic-era technology boom in 2021. The $53 billion offer illustrates how far expectations for PayPal have fallen as growth slowed and competition intensified across digital payments. Block had originally joined Stripe and Advent in approaching PayPal in April but withdrew before the remaining consortium submitted its offer. That left Stripe and Advent pursuing a transaction that would have required substantial financing and potentially lengthy regulatory reviews given the scale of the companies involved. PayPal, Stripe and Advent have declined to comment publicly on the decision to abandon the transaction. The withdrawal puts investor attention back on PayPal's standalone turnaround rather than the possibility of a takeover premium. The company has spent recent years trying to revive growth...
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