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Advent, Stripe abandon US$50 billion pursuit of PayPal
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According to a Bloomberg report, private equity firm Advent International and payments company Stripe have abandoned their pursuit of PayPal in a deal that could have been valued at US$50 billion. The acquisition talks collapsed as PayPal has struggled to modernize its payment technologies while competitors have gained market share. The Wall Street Journal had previously reported that PayPal found the initial bid insufficient and that the two sides were negotiating a potential higher price. The abandonment of the deal highlights ongoing challenges for PayPal in the competitive digital payments landscape.
Source report
PayPal has struggled with modernising its payment technologies as rivals seized market share.
Advent International and Stripe have abandoned their pursuit of PayPal Holdings in a deal that could have been valued at US$50 billion, according to a report by Bloomberg.
The decision to walk away marks the end of what would have been one of the largest leveraged buyouts in history.
Background
- The Wall Street Journal reported recently that PayPal had found Advent and Stripe's initial bid insufficient, and that the two sides were negotiating a potential higher price.
- PayPal has faced challenges in modernising its payment technologies as competitors have gained market share.
Source
The Business TimesNeutral / independent
Part of this Story
Stripe and Advent International in Talks to Acquire PayPal