Payments firm Stripe and private equity firm Advent International have stopped pursuing an acquisition of PayPal, Bloomberg reported on Aug. 27 local time. Axios also confirmed the move, it said.
Stripe and Advent were seeking to buy PayPal in a deal valued at $53 billion, the report said. If completed, it could have become the largest fintech merger and acquisition deal on record in the fintech industry.
PayPal shares closed at $61.47 on Thursday. That is above the $60.50 per share offer price proposed by Stripe and Advent.
Stripe agreed last week to buy AI model marketplace OpenRouter for $8 billion. A source said the OpenRouter acquisition and the PayPal takeover efforts proceeded on separate tracks.
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Chi-gyu Hwang
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