PayPal Falls 12% After Stripe and Advent End Pursuit

PayPal shares tumbled 12% on Friday after a Bloomberg report that Stripe and private equity firm Advent International had abandoned their attempt to buy the company.

Shares of PayPal fell to $54 as of Friday morning, lower than the $60.50 per share price that Stripe and Advent had offered in July, which would value PayPal at more than $53 billion. PayPal viewed that offer as insufficient and the two sides had recently been negotiating a higher price, the Wall Street Journal reported this month.

PayPal CEO Enrique Lores said last month that the company would evaluate any deal offer and compare it with its own turnaround strategy to choose the option that creates more value. Separately, Stripe this month agreed to buy OpenRouter, an AI model marketplace, for a reported $7.5 billion.