PayPal Tumbles 13% Premarket as Stripe-Advent Abandon $53B Takeover Bid
PYPL sits 39% above its 52-week low of $38.46.
Summary
Stripe and Advent International have formally walked away from their $53 billion takeover bid for PayPal, sending shares down 13% in premarket trading. This follows the July 15 unsolicited offer at $60.50 per share, which PayPal rejected on July 20 citing financial and regulatory concerns. The stock had gained roughly 30% since the bid was reported, so today's drop erases a large chunk of that premium. The abandonment removes the takeover floor and leaves PayPal's standalone turnaround—including planned 20% staff cuts and AI adoption—as the sole driver of value. If the losses hold, it would be one of PayPal's biggest single-day declines in a decade.
At the time of this announcement, PYPL was trading at $53.39 on NASDAQ in the Finance sector, with a market capitalization of approximately $52.6B. The 52-week trading range was $38.46 to $79.22. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.