Stripe and Advent ended their $53 billion PayPal pursuit. The market had already moved above the offer.
The reported $60.50-a-share proposal sat below PayPal's Thursday close of $61.47. Shares fell sharply after the consortium walked away.
- The proposed deal: Stripe and Advent reportedly offered more than $53 billion, or $60.50 per share, backed by about $50 billion in committed bank financing.
- Why price mattered: PayPal closed above the bid before the pursuit ended. No definitive reason for the withdrawal is public, so price is context rather than a confirmed cause.
- The market reaction: PayPal fell about 12% after hours to roughly $54. The move removed much of the takeover premium that had entered the stock after the July approach.