Advent and Stripe Abandon Acquisition Bid for PayPal
· Business · Bloomberg, Engadget
A consortium led by private equity firm Advent International and payment processor Stripe has officially ended its pursuit of fintech company PayPal Holdings Inc. The group decided to stop its takeover efforts according to individuals familiar with the situation. The report does not specify the reasons behind the decision to abandon the potential deal. PayPal remains an independent entity following the collapse of these acquisition discussions.
Why it matters
The withdrawal removes a major potential consolidation in the global fintech sector, leaving PayPal to continue its operations as a standalone company.
Read the original report — Bloomberg
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