U.S. payments company Stripe and Advent International were reported to have abandoned their acquisition proposal for PayPal, prompting a reaction in PayPal's share price. Reuters had reported in July that the initial acquisition value was $53 billion.
Bloomberg News, citing people familiar with the matter, reported that U.S. payments giant Stripe and U.S. investment firm Advent International had abandoned their planned acquisition of PayPal Holdings. This article also states that Nikkei reported the decision based on information from people familiar with the matter.
Following the report that the acquisition had been abandoned, PayPal's share price was said to have fallen by approximately 14% at one point in trading on the 28th from the previous day's closing price.
The article also refers to a July Reuters report that Stripe and Advent had planned to jointly acquire PayPal for approximately $53 billion.