Article
PayPal Crashes After Advent, Stripe Abandon $50 Billion Takeover Bid
PayPal Crashes After Advent, Stripe Abandon $50 Billion Takeover Bid
PayPal shares plunged as much as 16% in premarket trading Friday, the most in months if the losses hold through the cash session, after a consortium led by private-equity firm Advent International and payments giant Stripe abandoned its takeover bid for the struggling payment processor.
Bloomberg reports that the consortium offered more than $50 billion for PayPal in what would have been one of the largest leveraged buyouts in history.
As per the report:
The group is no longer pursuing a deal for...
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Summary
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President Trump's abrupt Saturday return to the White House from Camp David, where he had been slated to spend the whole weekend, had set off an avalanche of speculation on potential military escalation in the Middle East.
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Source: White House
"President Trump over the weekend considered...
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