HP Stock Drops 9% Despite Q3 Earnings Beat and Raised 2026 Outlook 
Shein Hong Kong IPO to Raise $1.7 Billion at $26.5 Billion Valuation 
Mercer International Stock Surges 45% on C$20 Million Canada Funding 
OpenAI AI Agent Swarm Behind Hugging Face Hack 
Australia’s Big Four Banks Face Mortgage Slowdown as Valuations Draw Scrutiny 
U.S. Probes Apex Logistics Over Nvidia AI Chip Shipments to China 
Google Changes EU Spam Policy Amid Antitrust Scrutiny 
Nvidia Options Price in $280 Billion Earnings Swing 
U.S. Disrupts China-Linked Hacking Campaign Targeting Government Agencies 
BofA Names ASML Top Semiconductor Equipment Pick on Growth, Valuation 
Salesforce Shares Surge as AI Demand Powers Q2 Earnings Beat 
Trian Drops Wendy’s Take-Private Bid Plans, Shares Plunge 14% 
Yindjibarndi Appeals Fortescue Mining Compensation Ruling 
Tesla Raises Cybertruck Prices by $5,000 in US 
Add as a preferred source on Google
PayPal Holdings (NASDAQ: PYPL) shares plunged in extended trading after a consortium led by private equity firm Advent International and payments giant Stripe reportedly ended its pursuit of the digital payments company.
The consortium had previously submitted an offer worth more than $50 billion to acquire PayPal, Bloomberg News reported Thursday, citing people familiar with the discussions. However, the group has now walked away from the potential transaction, dealing a blow to investors who had been betting on a takeover.
PayPal shares dropped 12.7% in after-hours trading to $53.66 as of 23:32 ET following the report.
Interest in acquiring PayPal emerged after a steep decline in the company's stock price made the payments pioneer a potential takeover target. Stripe had reportedly explored acquiring either a portion of PayPal or the entire company, raising speculation about a major consolidation in the digital payments industry.
Takeover expectations, combined with PayPal's stronger-than-anticipated second-quarter financial results, helped fuel a significant recovery in its shares. The stock has gained more than 40% during the current quarter, pushing PayPal's market capitalization to approximately $52.6 billion, according to Bloomberg.
The company has also undergone a major leadership transition as it attempts to strengthen growth and reposition its business. PayPal replaced CEO Alex Chriss with Enrique Lores in March, tasking the new chief executive with modernizing the company and improving its competitive position.
PayPal continues to face intense competition across the global payments market, particularly from technology giants including Apple and Alphabet, as consumers and merchants increasingly adopt alternative digital payment services.
While Advent and Stripe have abandoned their current PayPal takeover effort, a future transaction may not be completely off the table. Bloomberg reported that the consortium could potentially return with another acquisition proposal if market conditions or other circumstances change.
For now, the collapse of the proposed $50 billion-plus PayPal deal has removed a key catalyst behind the stock's recent rally, triggering a sharp reaction from investors in after-hours trading.
