PayPal Stock Falls After Reports That Advent, Stripe Abandon $50 Billion Bid

PayPal Holdings Inc. (NASDAQ: PYPL) shares are trading lower following reports suggesting that a consortium of Advent and Stripe walked away from its pursuit of PayPal.

Advent, Stripe Abandon $50 Billion Bid

According to Bloomberg, buyout firm Advent and payment processor Stripe have decided to abandon their pursuit of PayPal, citing people familiar with the matter. The group is no longer pursuing a deal for the company, according to the report, which had previously seen an offer of more than $50 billion.

Representatives for Advent, PayPal, and Stripe declined to comment.