U.S. stocks volatility | Rumor: Stripe stops acquisition plans, PayPal (PYPL.US) drops over 11%
On Friday, PayPal (PYPL.US) opened about 14% lower. As of press time, the decline narrowed to 11.4%, with the stock priced at $54.53.
Jintone Finance APP has learned that on Friday, PayPal (PYPL.US) opened sharply lower by about 14%. As of the time of publication, the decline narrowed to 11.4%, trading at $54.53. According to reports quoting insiders, a consortium formed by private equity firm Advent International and digital payments giant Stripe has officially abandoned its acquisition of PayPal. The consortium had previously offered $60.50 per share, totaling about $53 billion, but the PayPal board rejected the offer, citing undervaluation. Compared to PayPal's historical peak valuation of around $360 billion during the global online payment boom in the 2021 COVID-19 pandemic, this offer represents only a small fraction of that value.
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