PayPal Shares Fall as Advent-Stripe Buyout Talks Collapse

PayPal stock declined on Friday following reports that a consortium led by Stripe and private equity firm Advent has abandoned efforts to acquire the digital payments company.

The group had reportedly submitted a bid of $60.50 per share in mid-July, valuing the potential transaction at approximately $53 billion.

The collapse of the deal, which was first reported by Bloomberg on Thursday night, marks the end of the consortium's pursuit of the payments giant.