Economy · World
PayPal Shares Drop as Takeover Bid Reportedly Collapses
PayPal shares experienced a significant decline, falling 13% to 15% in premarket trading, following reports that a consortium of Advent International and Stripe had abandoned plans to acquire the payments company. The consortium had reportedly offered $60.50 per share, valuing PayPal at approximately $53 billion. Reports suggest that valuation concerns and potential regulatory hurdles were factors in the deal's collapse.
How outlets across the spectrum covered it
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- Centre (6): CNBC, Channel News Asia, Forbes, Reuters, The Economic Times, The Wall Street Journal