WASHINGTON (dpa-AFX) - Private equity firm Advent International and payments company Stripe have walked away from a potential acquisition of PayPal Holdings, Inc. (PYPL), ending speculation over a deal that could have valued the fintech company at more than $50 billion, Bloomberg News reported late Thursday, citing people familiar with the matter.
The consortium had explored a possible takeover of PayPal after a sharp decline in the company's stock raised interest in an acquisition. Bloomberg first reported in February that Stripe was considering buying part or all of PayPal.
The deal talks had helped revive investor interest in PayPal, whose shares have gained more than 40% this quarter, lifting its market value to about $52.6 billion.
PayPal shares fell about 14% in after-hours trading after closing at $61.47 on Thursday.
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