ME News reports that on August 28 (UTC+8), a consortium led by payment giant Stripe and private equity firm Advent International has decided to abandon its plan to acquire PayPal. Previously, the consortium had made an acquisition offer exceeding $50 billion, with market sources indicating the offer was approximately $53 billion. Individuals familiar with the matter requested anonymity, as the information has not yet been made public. Advent, Stripe, and PayPal all declined to comment. However, sources indicated that the situation could still change, and Advent and Stripe may potentially revisit their acquisition proposal in the future. (Source: ODAILY)
Stripe and Advent International Withdraw $530 Billion PayPal Acquisition Bid
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Summary
A major crypto news update: According to MetaEra, Stripe and Advent International have abandoned their $530 billion bid to acquire PayPal. The group had previously advocated for the deal, but it is now off the table. The companies involved have not commented, and a future crypto news update may still occur if the situation changes.
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